AXA has announced that it has completed the acquisition of Laya Healthcare Limited (“Laya”).
Under the terms of the transaction, AXA has acquired Laya for a consideration of Euro 650 million, in line with the announcement made upon signing of the agreement.
Laya is a leading insurer in the Irish health market with ca. 28% market share, serving close to 700,000 policyholders and generating ca. Euro 800 million premiums* per annum. It operates as a Managing General Agent** with a highly digitalized platform and a strong direct distribution network.
* As of FY22. Premiums currently underwritten by a third-party insurer.
** Subject to the receipt of regulatory approvals, AXA intends from the fourth quarter of 2024 to underwrite the business currently written by a third-party insurer.