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AXA has completed the sale of MONY Life Insurance Company as well as the reinsurance of an in-force book of life insurance policies, written primarily prior to 2004 by MONY’s subsidiary MONY Life Insurance Company of America, to Protective Life Insurance Company.

The total cash consideration was US$ 1.06 billion. AXA said that the transaction will have the following financial impacts: +3 points on Solvency I ratio, +4 points on Economic Solvency ratio, and -1 point on debt gearing.

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