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Brazil: AXA eyeing Itau Unibanco's insurance assets

June 9, 2014 - 6:00am


AXA Group chief executive Henri de Castries said the firm is interested in purchasing Brazilian bank Itau Unibanco Holding S.A.'s insurance assets, Reuters reported.

The bank said in January 2014 its high-risk corporate insurance unit, which has annual revenue of about 1.7 billion Brazilian reais ($751.7 million), was up for sale, reports Reuters.

Mr. Castries said "it is something that is being offered, and I would be surprised if we were the only ones" to see the opportunity.

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