Axa and BNP Paribas unit UkrSibbank have agreed to jointly buy 99 pct of Ukraine`s sixth-largest damage insurer, Vesko, for an undisclosed amount, according to Interactive Investor.

Axa and BNP Paribas will make the acquisition through a joint venture, Ukrainian Insurance Alliance. Combined with UIA`s existing activity, the move will give the French companies a 7 pct market share in Ukraine.