Axa to purchase Groupama's Turkish operations

French insurer Axa SA will acquire the insurance operations of French insurer Groupama SA in Turkiye, Middle East Insurance Review reported. The acquisition of shares of Groupama Investment Bosphorus Holding, which owns Groupama Sigorta A.S. and Groupama Hayat A.S., will allow Axa to strengthen its presence in the country, increase market share and expand its distribution network.