AXA (EPA:CS) - AXA has completed the sale of its insurance operations in the Gulf region

Transparency directive : regulatory news

07/09/2021 08:47

Press release

Paris, September 7, 2021

AXA has completed the sale of its insurance operations in the Gulf region(1)

AXA announced today that it has completed the sale of its 50% shareholding in
AXA Gulf and its 34% shareholding in AXA Cooperative Insurance Company (in
Saudi Arabia) to Gulf Insurance Group, for a cash consideration of USD 264
million (or Euro 222 million(2)).

The sale of AXA's 28% shareholding in AXA Green Crescent Insurance Company (in
UAE), representing cash consideration of USD 5 million (or Euro 4 million(2)),
has received required regulatory approvals and is also expected to close
shortly.

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with
153,000 empl oyees serving 105 million clients in 54 countries. In 2020, IFRS
revenues amounted to Euro 96.7 billion and underlying earnings to Euro 4.3
billion. AXA had Euro 1,032 billion in assets under management as of December
31, 2020.

The AXA ordinary share is listed on compartment A of Euronext Paris under the
ticker symbol CS (ISN FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA).
AXA's American Depository Share is also quoted on the OTC QX platform under the
ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow
Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme's Finance Initiative
(UNEP FI) Principles for Sustainable Insurance and a signatory of the UN
Principles for Responsible Investment.
This press release and the regulated information made public by AXA pursuant to
article L. 451-1-2 of the French Monetary and Financial Code and articles 222-1
et seq. of the Autorité des marchés financiers' General Regulation are
available on the AXA Group website (axa.com).

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com

FOR MORE INFORMATION:

Investor Relations:     +33.1.40.75.48.42
Andrew Wallace-Barnett  +33.1.40.75.46.85
François Boissin:       +33.1.40.75.39.82
Aayush Poddar:          +33.1.40.75.59.17
Mikaël Malaganne:       +33.1.40.75.73.07
Mathias Schvallinger:   +33.1.40.75.39.20
Shuqi Ye:               +33.1.40.75.58.44

Individual Shareholder Relations:
+33.1.40.75.48.43

Media Relations:        +33.1.40.75.46.74
Julien Parot:           +33.1.40.75.59.80
Farah El Mamoune:       +33.1.40.75.46.68
Jonathan Deslandes:     +33.1.40.75.97.24

Corporate Responsibility strategy:
axa.com/en/about-us/strategy-commitments

SRI ratings:
axa.com/en/investor/sri-ratings-ethical-indexes

IMPORTANT LEGAL INFORMATION AND CAUTIONARY  STATEMENTS  CONCERNING
FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements
including, but not limited to, statements that are predictions of or indicate
future events, trends, plans, expectations or objectives. Undue reliance should
not be placed on such statements because, by their nature, they are subject to
known and unknown risks and uncertainties and can be affected by other factors
that could cause AXA's actual results to differ materially from those expressed
or implied in such forward looking statements. Please refer to Part 5 - "Risk
Factors and Risk Management" of AXA's Universal Registration Document for the
year ended December 31, 2020 (the "2020 Universal Registration Document") and
"Operating Highlights - Risk Factors" on page 11 of AXA's half-year financial
report as of June 30, 2021 (the "Half-Year 2021 Financial Report") for a
description of certain important factors, risks and uncertainties that may
affect AXA's business and/or results of operations, particularly in respect of
the Covid -19 crisis. AXA undertakes no obligation to publicly update or revise
any of these forward-looking statements, whether to reflect new information,
future events or circumstances or otherwise, except as required by applicable
laws and regulations.

(1) Excluding the sale of AXA's 28% shareholding in AXA Green Crescent
Insurance Company (in UAE).
(2) 1 Euro = 1.189 USD as of September 3rd, 2021 (Source: Bloomberg).

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