AXA Acquires Italian Insurer Prima

AXA has announced its acquisition of Prima, a prominent direct insurance company in Italy. The agreement involves AXA purchasing 51% of Prima for Euro 0.5 billion. Prima, launched in 2015, has achieved a significant market position, with a 10% share in Retail Motor and Euro 1.2 billion of premiums in 2024.

This acquisition aims to enhance AXA's presence in Italy and improve its direct distribution capabilities across Europe. Prima’s technology-driven approach and strong data analytics have been pivotal to its success, offering a seamless user experience.

With over 1,100 employees, Prima has also expanded into the UK and Spain. The transaction is expected to be completed by the end of 2025, subject to regulatory approvals, and will impact AXA's Solvency II ratio by -6 points.