AXA completes the acquisition of a majority stake in Prima

AXA announced today that it has completed the acquisition of a majority stake in Prima. Under the terms of the transaction, and in line with the announcement made upon signing, AXA has acquired 51% of the company for a consideration of Euro 0.5 billion. Call/put options to be exercised at a price tied to Prima’s earnings have been entered into between AXA and the minority stakeholders respectively for AXA to acquire the remaining stake, and are expected to be exercised in 2029 or 2030. Including the re-capture of the business currently written by third party insurance carriers, the transaction is expected to result in an impact of -6 points on AXA Group’s Solvency II ratio, in line with the expected impact announced at signing.