Axa agrees to acquire Spanish P&C insurer for over $300 million

French insurer Axa SA has agreed to acquire Spain-based insurer Groupe Assurances du Credit Mutuel Espana (GACM Espana) for €310 million ($305 million) in a bid to strengthen its foothold in the Spanish market, Capital.gr reported. GACM Espana primarily operates in the property, casualty and health insurance space.