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AXA completes sale of reinsurance arm


HAMILTON, Bermuda—AXA. S.A. has completed the sale of its reinsurance unit, AXA Re, to Paris Re Holdings Ltd.

Paris Re, based in Bermuda, is headed by Hans-Peter Gerhardt, formerly chief executive officer of AXA Re.

AXA has a 3.4% stake in Paris RE, which is backed by a consortium of investors led by Stone Point Capital L.L.C.