Axa to Buy Laya Healthcare From AIG Unit in €650 Million Deal

Axa SA said it will acquire Ireland’s Laya Healthcare Ltd. from a unit of American International Group Inc. in a €650 million deal as the insurer expands its health division across Europe.

The Paris-based insurer has entered into an agreement with AIG’s Corebridge Financial Inc. that will enable Axa gain €800 million premiums a year and a 28% market share of Ireland’s health insurance market, the firm said in a statement Thursday.

“This transaction provides a unique opportunity to strengthen our presence in one of our key European markets through the acquisition of a leading player offering a perfect cultural ...