AXA Closes on ING Seguros
The Mexican insurance company was acquired for $1.5 billion.
July 22, 2008
AXA, the French insurance and financial services giant has completed its acquisition of Mexico-based ING Seguros for $1.5 billion.
The transaction was announced in February. ING Seguros is the 3rd largest insurance company in Mexico.
As of last year, AXA had Euro 1,281 billion in assets under management. AXA shares opened Tuesday morning at $29.45 and following the announcement, as of press time, traded at $30.02.
Earlier today, the firm also announced that AXA Group added two new members to its group executive committee: Gerald Harlin, deputy chief financial officer and executive vice president of finance and control, and Mark Pearson, chief executive officer of AXA Life Japan and AXA Japan Holdings.
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