ZURICH (Bloomberg) — Switzerland's insurance regulator said it has no objections to the sale of Credit Suisse Group's Winterthur insurance unit to France's Axa SA.An examination of the transaction didn't "reveal any grounds which could endanger the solvency or proper governance of Winterthur", the Bern, Switzerland-based Federal Office of Private Insurance said in a statement on its website yesterday.

Credit Suisse, Switzerland's second-largest bank, in June agreed to sell Winterthur for 7.9 billion euros ($10.1 billion). The transaction is due to be completed by the end of this year, Winterthur said in September.