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FINANCIAL NEWS
French AXA Insurance pays USD97.51m for Egypt’s CIL
14 Jul 2015
(MENAFN) Egypt’s Commercial International Life Insurance Company (CIL) has been fully acquired by French AXA Insurance Company for a total of about USD97.51 million, a corporate statement said, Amwal Alghad reported.
CIL is a joint venture insurance firm, owned by the two shareholders: 55 percent by Legal & General of the UK and 45 percent by the Commercial International Bank of Egypt (CIB).
AXA is an international investment banking company that undertakes investments in banking, securities, investment management, insurance, and other financial services.
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