AXA completes €500 million majority stake acquisition in Prima

AXA SA on Friday announced it completed the acquisition of a majority stake in Milan-based Prima Assicurazioni Spa.

The Paris-headquartered insurance firm said it acquired 51% of Prima for a consideration of EUR500.0 million.

AXA has agreed call and put options with Prima's minority holders to buy the remaining stake at an earnings‑linked price, expected to be exercised in 2029 or 2030.

The deal is expected to reduce AXA's solvency II ratio by six points, matching the impact flagged at the agreement signing in August.