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Ageas completes acquisition of AXA's insurance ops in Portugal

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Ageas completes acquisition of AXA's insurance ops in Portugal

AgeasSA/NV said April 1 that it completed the of 's insurance operations inPortugal, following regulatory approvals.

The deal involved AXA Portugal Companhia de Seguros SA, and a direct/internet platform for non-life insurance that was operatedby the Portuguese branch of Axa Global Direct Seguros y Reaseguros SAU.

This transaction positions Ageas in Portugal as the second-largestinsurer by premiums.