Barclays Private Equity France has bought control of Albingia, a French insurance company specialising in corporate risk management, from Axa, for an undisclosed price.Albingia expects to achieve a €110m ($126m) turnover this year.

The buy-out firm, advised by PriceWaterhouseCoopers Corporate Finance, said it was taking 90% of Albingia alongside the company's managers. Axa will retain a 10% stake. HSBC-CCF provided bank debt to help finance the transaction.