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France's Axa signs deal to sell Greek businesses to Generali

PARIS, Dec 31 (Reuters) - French insurer Axa has signed a deal to sell its businesses in Greece to Italian competitor Generali for 165 million euros ($202.9 million) as part of its strategy to streamline activities to boost returns.

Axa, Europe’s second-biggest insurer behind Allianz , said it expects to close the transaction by the end the second quarter of next year. ($1 = 0.8134 euros) (Reporting by Matthieu Protard Editing by David Goodman )

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