AXA to focus on 16 key marketsNovember 16 2017 by InsuranceAsia News Staff
Top officials of AXA announced that its acquisition efforts will now centre on 16 key countries, adding that the company may sell some assets in markets where it lacks scale.
Explaining the move, AXA chief executive Thomas Buberl said the renewed focus on a smaller number of countries would allow the company to maximise its scale and potential.
The countries that will be AXA’s main focus for its acquisition ventures comprise 10 developed markets, including Germany, France, Belgium, Italy and the US, as well as the six emerging markets of Brazil, China, Indonesia, Mexico, the Philippines and Thailand.
Altogether, these countries make up about 90% of AXA’s profits.
Buberl also said the company did not want to overspend on acquisitions, though it was open to using money for share buybacks.
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