Generali, an insurance services provider, agreed to acquire Greek operations of AXA, an insurance brokerage firm, for $201m. "This acquisition is fully aligned with the ‘Generali 2021’ strategy, which aims to strengthen our leadership in Europe. With the purchase of AXA Greece and the exclusive long-term distribution agreement with Alpha Bank, Generali decidedly strengthens its position in the local market, becoming the second largest group in the non-life and the third in the health sector in Greece. The transaction will enable us to optimize our strategic positioning in the country, allowing for a multi-channel, dynamic business and securing valuable, significant economies of scale for a more effective and efficient overall operation," Jaime Anchústegui Melgarejo, Generali CEO.