https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Thu, 13 Aug 2026 18:34:51 +0500 Thu, 13 Aug 2026 18:34:51 +0500 60 https://www.brecorder.com/news/6740/axa-says-it-gets-approval-for-taikang-life-stake-sale <p><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/AXA-400.jpg" width="400" height="292" />PARIS: French insurer AXA said on Friday it had received the main regulatory approval for the sale of its 15.6 percent stake in China's fourth largest life insurer, Taikang Life, for $1.2 billion (0.9 billion euros). AXA said the China Insurance Regulatory Commission had approved the sale of the stake to a consortium of new and existing shareholders. "This transaction is expected to generate a positive impact of (approximately) euro 0.8 billion in net income and reduce debt gearing by one point in the first half of 2011," AXA said in a statement. <center><b><i>Copyright APP (Associated Press of Pakistan), 2011</i></b><i></i></center></p> PARIS: French insurer AXA said on Friday it had received the main regulatory approval for the sale of its 15.6 percent stake in China's fourth largest life insurer, Taikang Life, for $1.2 billion (0.9 billion euros). AXA said the China Insurance Regulatory Commission had approved the sale of the stake to a consortium of new and existing shareholders. "This transaction is expected to generate a positive impact of (approximately) euro 0.8 billion in net income and reduce debt gearing by one point in the first half of 2011," AXA said in a statement. Copyright APP (Associated Press of Pakistan), 2011

]]> Business & Finance https://www.brecorder.com/news/6740 Sat, 12 Mar 2011 11:36:02 +0500 none@none.com (Syed Murtaza Gheblehzadeh)