By Nadya Masidlover

PARIS--French insurance company AXA SA (CS.FR) said Monday it has signed an agreement to sell its Hungarian life and savings insurance businesses to Vienna Insurance Group (VIG.VI).

The deal will lead to an exceptional capital loss of 40 million euros in AXA's annual results of 2013.

The insurer added that it continues to have banking activities in Hungary.

-Write to Nadya Masidlover at nadya.masidlover@wsj.com

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