• Jul. 22, 2015, 9:24 AM
    • Genworth (NYSE:GNW) has entered exclusive negotiations with AXA (OTCQX:AXAHY) after receiving an irrevocable offer for its lifestyle protection insurance business.
    • The sale price is expected to by about $510M, and Genworth will take about a $310M after-tax loss in Q2.
    • Net proceeds should be roughly $400M, and the company will use the money to advance its compliance with the PMIERs set to take effect at year-end, and to cut debt.
    • The operation has been on the block for some time.
    • Shares +3.4% premarket
    | Jul. 22, 2015, 9:24 AM | 10 Comments
  • Jan. 23, 2012, 6:45 AM

    European banks shoot higher this morning on reports of a Franco-German push to weaken bank capital rules. In Paris, Societe Generale +7.9%, Credit Agricole +5.5%, AXA +2.8%. Premarket U.S.: Deutsche Bank +3%, UBS +1.8%, RBS +1.2%, ING +1.5%, Lloyds +1%.

    | Jan. 23, 2012, 6:45 AM | 1 Comment
Company Description
The AXA Group is a worldwide leader in insurance and asset management, with 160,000 employees serving 102 million clients in 57 countries. In 2012, IFRS revenues amounted to Euro 90.1 billion and IFRS underlying earnings to Euro 4.3 billion. AXA had Euro 1,116 billion in assets under management... More
Sector: Financial
Industry: Life Insurance
Country: France