Axa to acquire a 51% stake in Prima.

Axa, a multinational insurance firm that offers a wide range of insurance products and services, agreed to acquire a 51% stake in Prima, the direct insurance player in Italy. Financial terms were not disclosed. “We are excited to announce the acquisition of Prima, which will not only significantly enhance our position in the Italian P&C market but also bring capabilities to strengthen our direct business in European Markets. With Prima, we are acquiring a best-in-class direct player with a cutting-edge platform and a unique set of skills in serving customers. Together with the Prima team, we are confident we can further scale our direct business, expanding our market reach to customer segments that naturally complement those served by our traditional distribution channels,” Patrick Cohen, AXA Chief Executive Officer.