AXA terminates sale of Romanian operations to Astra

Insurer AXA has terminated the 2013 contract under which it was to sell AXA Life Insurance Romania business to Astra Asigurari. The French Group is looking at other strategic options for its Romanian operations, according to the local subsidiary of AXA. “The sale of insurance operations AXA Life Insurance Romania to Astra Asigurari, announced on November 29, 2013, was terminated. AXA continues to evaluate strategic options, taking into account the interest of its clients and employees in Romania,” reads a statement of the company, cited by local Mediafax. AXA Life Insurance Romania ended 2013 with a share of 2.7% of the local insurance market. Irina Popescu, irina.popescu@romania-insider.com