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Axa acquires and sells

French insurance provider Axa has completed the acquisition of Winterthur, a Swiss insurance company, as well as having completed the sale of its Axa Re's business to Paris Re Holdings, a newly-created company sponsored by a consortium of international investors led by Stone Point Capital.

I am very confident that the enthusiasm and professionalism of Winterthur and Axa teams and the extensive preparatory work conducted across both groups will ensure a swift integration of our businesses, said Henri de Castries, Axa Group CEO.

The acquisition is thought to further the diversification and growth of the company. The transaction closed on December 22, 2006.

The sale of Axa Re’s business closed on December 21, 2006.