Axa buys Winterthur for £5.4bn
Insurer Axa has strengthened its reach across Asia, Europe and the US by buying Winterthur, the insu...
Insurer Axa has strengthened its reach across Asia, Europe and the US by buying Winterthur, the insurance arm of Swiss investment bank Credit Suisse First Boston, for £5.4bn. Winterthur has a wide market reach including the UK, Switzerland, Spain, the US, Hong Kong and Japan. Winterthur is the leading composite insurer in Switzerland where it is the second largest life and pension provider, and the largest general insurer. As a result of the deal, credit ratings agency Standard and Poor's cut
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