With the acquisition of a 50% stake in AXA Tianping, the French company became the largest fully foreign-owned P&C operator in China. This move is explained by the importance of this market and its solid growth outlook. However, AXA has to deal with the need for a larger distribution network, rapid digitalisation and the ongoing price deregulation. In all, it is a positive strategic move with the expected significant positive long-term impact of the insurer’s figures.
16 Dec 2019
AXA seeks growth in Chinese P&C insurance business
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AXA seeks growth in Chinese P&C insurance business
With the acquisition of a 50% stake in AXA Tianping, the French company became the largest fully foreign-owned P&C operator in China. This move is explained by the importance of this market and its solid growth outlook. However, AXA has to deal with the need for a larger distribution network, rapid digitalisation and the ongoing price deregulation. In all, it is a positive strategic move with the expected significant positive long-term impact of the insurer’s figures.