Axa to divest all of its €1.8 billion tobacco industry assets
France's largest insurer will sell €200 million of stock in tobacco companies
Axa, France’s largest insurer, said it will stop investing intobacco and divest all of its €1.8 billion of assets in the industry.
The Paris-based company will sell €200 million of stock in tobacco companies and run off its bond holdings in the industry, valued at about €1.6 billion, the company said in a statement on its website. It didn’t say which tobacco company stocks it holds.
“We strongly believe in the positive role ...
