Acquisition will help AXA expand its footprint in Far East while QBE snaffles Argentina business
AXA and QBE made a statement of intent today to expand in emerging markets with the acquisition of HSBC Insurance.
AXA is paying $494m (£314m) for the assets in Hong Kong, Singapore, India and Indonesia, and the general insurance products distributed by HSBC in Mexico.
QBE is paying $420m for the business in Argentina.
The acquisition will help AXA achieve its growth targets in emerging markets by 2015. AXA aims to triple revenues and double underlying earnings under a plan revealed last summer.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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