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AXA secures regulatory approval for legal merger of Polish insurance units

The Polish Financial Supervision Authority allowed AXA Polska SA to merge its nonlife insurance units AXA TUiR SA and AXA Ubezpieczenia TUIR SA into one company.

The legal merger is expected to be completed at the end of March. The merged insurer will operate as AXA Ubezpieczenia TUiR, the parent company said Jan. 25.

The legal merger will complete the integration process of the two units, started after AXA acquired BRE Ubezpieczenia TUiR from mBank SA in 2015.

AXA Polska is controlled by AXA.