Axa is leaving the Slovak market
French insurer Axa is considering selling its subsidiaries in Slovakia, Poland and Czechia as part of a restructuring to quit markets where it lacks scale and expand in Asia, say sources of Reuters. Teasers, or information packs, had been sent to potential investors such as Poland’s biggest insurer PZU, Italian insurer Generali, and German Allianz. The sale could yield €400-800m. Axa has both life and non-life insurers in Slovakia, with underwritten premiums of €71m and €18m, respectively.