AXA strengthens market shares in Europe on Winterthur deal

Credit Suisse sells Winterthur • Swiss Re launches natural catastrophe bonds • Generali buys stake in Ukraine insurer

French insurer AXA has agreed to buy the insurer Winterthur from the Credit Suisse Group for CHF12.3bn ($10.0bn). In addition AXA will refinance CHF1.6bn ($1.3bn) of Winterthur’s debts – including CHF1.1bn of loans from Credit Suisse that AXA will repay upon completion – expected around the end of this year.