Corebridge to sell Laya Healthcare subsidiary to AXA for EUR 650M in cash

Corebridge announced that it has entered into a definitive agreement to sell its subsidiary, Laya Healthcare to AXA for a total consideration of EUR 650M in cash. The sale of laya healthcare is expected to close in the fourth quarter, subject to regulatory approvals and other customary closing conditions. Laya healthcare, which is the second largest health insurance provider in Ireland, is a full-service managing general agent headquartered in Cork, Ireland and offers a diverse suite of health insurance benefits and services in the Irish health insurance market, along with life insurance and travel insurance.