AXA and Zurich Want to Sell Old Life-Insurance Portfolios, Handelsblatt Reports
2022年3月31日 - 10:18PM
Dow Jones News
--AXA and Zurich Insurance Group want to sell legacy
life-insurance portfolios with high-interest obligations,
Handelsblatt reports, citing unnamed sources.
--Zurich is offering up to 800,000 policies with a face value of
around EUR20 billion, while AXA has a portfolio with a nominal
volume of around EUR15 billion on offer. Both could be valued at an
equity value of up to EUR500 million if sold, Handelsblatt says,
citing a source.
--A sale would allow the insurers to streamline their balance
sheets and reduce the complexity of operations, according to
Handelsblatt.
Full story: https://bit.ly/3qPwK2a
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
March 31, 2022 09:03 ET (13:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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