jesseps Posted September 26, 2011 Share Posted September 26, 2011 SSQ Financial Group said Monday it has agreed to purchase the Canadian AXA Life Insurance operations from Intact Financial Corp. for $300-million. The transaction is the outcome of a much larger acquisition by Intact Financial, initially announced in May, that gives it all of the Canadian operations of Paris-based AXA Group for $2.6-billion. http://www.theglobeandmail.com/report-on-business/ssq-financial-buys-intact-unit/article2180067/ In June 2011 Intact Financial purchased AXA Canada for $2.6 billion (announced the last week of May). The deal raises the fraction of business coming from property and casualty insurance (largest in Canada). Although the addition of AXA Canada improves business stability (less reliant on Ontario's auto insurance market) Moody's plans to lower its credit rating one notch down from Aa3 because of "less financial flexibility". http://en.wikipedia.org/wiki/Intact_Financial It didn't take long for it to change hands, yet again. Link to comment Share on other sites More sharing options...
monctezuma Posted September 26, 2011 Share Posted September 26, 2011 Je crois que c'est une bonne nouvelle ! Un siège qui quitte Montréal pour revenir au Québec, je suis bien content. Link to comment Share on other sites More sharing options...
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