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Article: AXA Direkt Versicherung and Tellit Direct Versicherung to Merge
- Article from:
- PR Newswire
- Article date:
- April 29, 1997
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Copyright informationCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS, April 29 /PRNewswire/ -- In November 1996, AXA and UAP Groups joined forces to build the world's second largest insurance group.
In Germany, the new AXA-UAP Group has several successful operations in the life and property-casualty businesses. In the direct insurance market, the new Group has achieved a growing presence. AXA launched AXA Direkt Versicherung (ADV) in 1995, and UAP subsidiary Colonia Konzern has been developing Tellit Direct Versicherung since 1993.
As part of its objective of becoming Germany's leading direct insurer in the property-casualty sector, ADV and Tellit Direct plan to merge, becoming AXA Tellit Direkt. The new unit will market ...