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Report: Axa considers sale of Central European business

Axa SA is planning to off-load its businesses in Poland, the Czech Republic and Slovakia in a deal that could be worth between 400 million and €800 million, Reuters reported.

The French insurer reportedly sent information packs to potential investors, including PZU SA, Generali and Allianz Group, related to the planned sale.

The plan is part of the company's restructuring as it looks to protect itself from the impact of a negative interest rate environment. Axa is looking to exit markets where it lacks scale, strengthen its health and property and damage insurance businesses, and expand in Asia, according to the report.