Crédit Agricole Assurances announces the sale of Crédit Agricole Life Serbija

Crédit Agricole Assurances is selling its subsidiary Crédit Agricole Life Serbija to Axa Mediterranean Holding, wholly owned by Axa SA.

Founded in 2006 Crédit Agricole Life Serbija distributes policies through Crédit Agricole Bank Serbija, which will remain in the Crédit Agricole Group.

The objective of the sale is to enable Crédit Agricole Life Serbija, which will change its corporate name at some stage, to develop its insurance business by opening up the distribution of its products to other banking networks. Crédit Agricole Bank Serbija will remain one of its distributors.