Oman Insurance coverage Firm is contemplating making a bid for the Center Jap operations of French insurer Axa.
Mashreq Financial institution-backed Oman Insurance coverage is working with Barclays because it weighs a possible supply for the enterprise, which offers life, property and medical health insurance.
Thomas Buberl, Axa’s Chief Govt Officer is transferring to streamline the insurer’s operations by retreating from much less worthwhile markets and pulling again from life insurance coverage.
Axa, which is working with HSBC Holdings on its strategic evaluate within the Center East, offered its operations in Poland, the Czech Republic and Slovakia for round EUR 1 billion ($1.1 billion) to Austria’s Uniqa Insurance coverage Group in February 2020.
The insurance coverage firm posted AED 3.6 billion ($980 million) in income and a web earnings of AED 190.5 million in 2019.