Axa, BNP Paribas unit UkrSibbank to jointly buy 99 pct of Ukraine insurer

11:19, 27 July 2007
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Sixth-largest damage insurer, Vesko, is sold for an undisclosed amount

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.

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