AXA takes over Liberty Ubezpieczenia for over PLN 100 mln
14:35
AXA has finalized its acquisition of Liberty Ubezpieczenia, the firm announced. The value of the transaction is PLN 101.3 million (€23.5 million). “We guarantee all current clients of Liberty Ubezpieczenia that their contract conditions will not change. We will make every effort to ensure that the change will proceed smoothly for our clients, dealers, and other business partners,” said AXA vice-president Henry de Courtois.
In 2015 AXA acquired BRE Ubezpieczenia TUiR and decided to merge AXA Direct, AXA Ubezpieczenia TUiR and AXA TuiR into one company by the end of 2017. Through its latest acquisition, AXA has expanded its sales channels and range of insurance products. “We are becoming a universal insurer with a full offer of property insurance products. Clients can buy them at agents, brokers, online, and through a call center, as well as at banks”, added de Courtois.
Due to its acquisition of Liberty Ubezpieczenia, AXA has increased its share of the property insurance market from 3 percent to 4.8 percent and is currently the sixth-largest property insurer in Poland with total gross premiums worth over PLN 1 billion.
