AXA expands property commitment at Newhome
AXA, one of the leading insurers, has acquired a 20 per cent stake in the established real estate platform Newhome to strengthen its presence in the residential sector. This step, which is still subject to FINMA approval, will enable AXA to consolidate its position in the residential and property sector and generate greater customer access.
AXA has taken an important step towards expanding its portfolio in the residential sector by acquiring a 20 per cent stake in the established property platform Newhome. The company, which is owned by 19 cantonal banks and around 500 companies from the property sector, plans to increase its share capital by issuing new shares. Following this capital increase, which is still subject to FINMA approval, the ownership structure will be reorganised: 50 percent by the cantonal banks, 30 percent by Next Property AG and 20 percent by AXA.
Dominique Kasper, Head of General Insurance at AXA, sees the investment as a strategic opportunity to strengthen the company’s positioning in the residential sector. Since it was founded in 2012, Newhome has developed into a major property platform in Switzerland. AXA hopes that this investment will not only give it greater access to customers in the home and property sector, but also enable it to serve the insurance needs of the platform’s users more effectively.
Johannes Hoehener, Chairman of the Board of Directors of Newhome, welcomes the expansion of the shareholder base and sees AXA’s strategic investment as an important step in the implementation of the growth strategy. The partnership with AXA is intended to increase the reach of Newhome and contribute to its positioning as a leading regional property portal.