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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Axa | EU:CS | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.28 | -0.76% | 36.37 | 36.35 | 36.38 | 36.46 | 36.01 | 36.05 | 3,718,862 | 02:01:22 |
From Feb 2023 to Feb 2025
By Helena Smolak
Axa subsidiary Axa France Vie entered into a reinsurance agreement with Axa Reassurance Vie France.
The French insurer said Wednesday that the agreement covers 12 billion euros ($13.18 billion) in savings reserves, including EUR10 billion of traditional general-account savings.
The transaction is expected to have a positive impact of two points on the group's Solvency II ratio as of Dec. 31, 2023, despite a reduction in underlying earnings of about EUR50 million from 2024. To offset this reduction, the insurer intends to launch a share buyback plan worth some EUR500 million, it said.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
December 20, 2023 13:14 ET (18:14 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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