Axa Asia Pacific Holdings eyes acqusitions in Asia, Australia

Sun. June 08, 2008; Posted: 10:37 PM

MELBOURNE, Jun 9, 2008 (Asia In Focus via COMTEX) -- AXAPF | Quote | Chart | News | PowerRating -- AXA ASIA PACIFIC HOLDINGS LTD (ASX:AXA) says the company has $A1 billion ($US957.0 million) in surplus capital to facilitate any future acquisitions as the group scours Australia and Asia for potential purchases. AXA, a unit of Europe's second-largest insurer, last week acquired CHALLENGER FINANCIAL SERVICES GROUP LTD'S financial planning business for $150 million.

* The financial planning business includes the GENESYS WEALTH ADVISERS and the proprietary platform SYNERGY.

* AXA APH chief executive Andrew Penn said the company carried about $1 billion of surplus capital above its regulatory requirements that could be utilised for further acquisitions.

For full details on Axa ADS (AXA) click here. Axa ADS (AXA) has Short Term PowerRatings of 6. Details on Axa ADS (AXA) Short Term PowerRatings is available at This Link.

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