In an effort to accelerate the development of its activities in emerging countries, notably Central and Eastern Europe, AXA acquired Omniasig Life. Created in 1997, Omniasig Life sells protection products, representing premiums of Euro 12 million in 2008, through a network of 1,400 agents, of which a quarter is proprietary channel.
After the buyout of the minority interests of its Hungarian, Czech and Polish subsidiaries held by the EBRD in December 2009, the acquisition of Omniasig Life represents for AXA an excellent opportunity for its development in a high growth potential market of Central and Eastern Europe.
The Romanian market, with its low life insurance penetration rate compared to the rest of the European Union (0.4%, with a life insurance market of Euro 0.5 billion in 2008), offers to AXA an important growth potential.
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