Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

AXA to acquire Brazilian insurer SulAmerica's subsidiary for $44.4 million

Reprints

French insurer AXA S.A. has entered into an agreement to purchase Brazilian insurer SulAmerica S.A.'s industrial and commercial risk subsidiary SulAmerica Companhia de Seguros Gerais, BNamericas reported.

AXA plans to acquire 100% of the unit's marine hull, marine cargo and property businesses for 135 million Brazilian reals ($44 million). The deal is likely to close in the fourth quarter of 2015 and is subject to regulatory approvals. The deal represents a "great accelerator" for AXA in the Brazilian market, an AXA official said.

Read more