The Wall Street Journal-20080213-AXA SA- Deal Is Set to Purchase ING-s Mexican Insurer

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AXA SA: Deal Is Set to Purchase ING's Mexican Insurer

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French financial-services group AXA SA said it agreed to buy ING Group NV's insurance business in Mexico for $1.5 billion. The deal marks ING's exit from Mexico's insurance industry, which it entered in 2001 through the acquisition of insurer Seguros Comercial America, now Seguros ING. AXA said it will acquire 100% of Seguros ING and will finance the transaction with internal resources.