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AXA sells 51 stake to BoI in AMC venture Sources - Moneycontrol.com
Insurance major AXA, which has a 26% equity stake in Bharti AXA Life Insurance has sold 51% stake to Bank of India in asset management company venture, reports CNBC-TV18 quoting sources. It is learnt that AXA will compensate BoI for recognising brand value.
The number of branches of Bharti Axa Life has been capped at around 200. The group is bullish on its growth prospects in Asia and is targeting to double its new business income level of 2008 by 2012.
Axa is present in the life insurance space in many Asian countries including India, Thailand, China, Malaysia, Indonesia, Singapore and Hong Kong either through joint ventures or wholly-owned subsidiaries.
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AXA sells 51 stake to BoI in AMC venture Sources - Moneycontrol.com
AXA Phils premium income hits P8.3B - Philippine Star
MANILA, Philippines - AXA Philippines has reported that its total premium income in 2010 ballooned to P8.3 billion, or a growth of 88.6 percent from the P4.4 billion recorded in 2009.
Likewise, it is 34.7-percent higher than its original target of P6.6 billion set in early 2010. “With this production in our total premium income, it should put us in the third spot after he Philippine American Life and General Insurance Co. (Philamlife) including the output of the joint venture bancassurance BPI Philam, and Sun Life Financial,” Rien Hermans, president and chief executive officer of AXA Philippines.
Last week, Sun Life Financial reported that total premium income last year reached P10.6 billion. Philamlife however has not released any official report on the matter.
Of the total new business, bancassurance accounted for 60 percent, agency for 20 percent, and the remaining 20 percent from alternative distribution channels (direct marketing and group insurance through brokers or direct sales). In 2009, bancassurance contributed just half of NBIs.
AXA Phils premium income hits P8.3B - Philippine Star
Now insurance on funeral expenses, job losses - Calcutta Tube
Chennai, Feb 13 (IANS) If you fret that your finances may dry up if handed the pink slip or how your funeral will be funded, Bharti Axa Life Insurance Company is coming out with a series of innovative products promising to address at least a part of such anxieties.
The $370-million company, a 76:26 joint venture between the New Delhi-based Bharti group and the French Axa Group, proposes to launch these and several more first-of-its-kind risk covers in India by the third quarter of this year to improve customer coverage.
The $370-million company, a 76:26 joint venture between the New Delhi-based Bharti group and the French Axa Group, proposes to launch these and several more first-of-its-kind risk covers in India by the third quarter of this year to improve customer coverage. ‘We are planning a funeral expense plan as part of life insurance policy which will pay the funeral expenses within 48 hours of an intimation of a death-claim even if the full settlement takes more time,’ said V. Srinivasan, the group’s chief financial officer.
The $370-million company, a 76:26 joint venture between the New Delhi-based Bharti group and the French Axa Group, proposes to launch these and several more first-of-its-kind risk covers in India by the third quarter of this year to improve customer coverage. ‘We are planning a funeral expense plan as part of life insurance policy which will pay the funeral expenses within 48 hours of an intimation of a death-claim even if the full settlement takes more time,’ said V. Srinivasan, the group’s chief financial officer. ‘As regard the job-loss rider, it will compensate a policy holder for a specified period if he loses his job suddenly,’ Srinivasan told IANS, adding steps were also being taken to have a one-page policy drafted in simple language to save costs and ambiguity.
Now insurance on funeral expenses, job losses - Calcutta Tube
Bharti AXA Life Insurance launches five new products - Myiris.com
Bharti AXA Life Insurance , the private life insurance joint venture between Bharti Enterprises and AXA, recently launched five new life insurance products - Bright Stars Edge, Future Champs, True Wealth, Family Income Secure and Aajeevan Anand.
Speaking at the launch, Mark Meehan, CMOO, Bharti AXA Life, said ``Post the new guidelines by IRDA, we have developed our new portfolio of insurance products to suit various life-stages of the customer and provide them with great value. The new child plans, regular income plans and traditional plans together provide a powerful suite of products catering to the needs of various segments of the customer base. On the anvil, is a battery of more products tailored to suit various customer segments.`` ``Additionally, we are moving toward simpler processes and quick resolution of service requests, by leveraging technology. We intend to deliver best in class service standards in the industry and safeguard the interests of customers at all touchpoints,`` added Mark Meehan.
Bharti AXA Life Insurance launches five new products - Myiris.com
AXA to Expand Banking Operations - Wall Street Journal
PARIS—French insurer AXA SA is bolstering its fledgling banking operation in France and using opportunities presented by the post-crisis environment to take on traditional banks.
AXA Banque, which combines online-banking operations with personal advisers located in AXA's retail branches throughout France, said Friday that it aims to double the number of its customers to 1.4 million and triple its balance sheet to €10 billion ($13.48 billion) by 2015 by investing €100 million in the next five years.
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AXA to Expand Banking Operations - Wall Street Journal
AXA Equitable Names Two to Executive Management Team - PR Newswire (press release)
James Shepherdson , 58, who will become chairman emeritus of AXA Distributors, LLC, AXA Equitable's wholesale broker dealer, and serve as an advisor to Pearson. Shepherdson is also expected to join the board of AXA Equitable later this year as a non-executive director.
Andrew McMahon , 43, AXA Equitable's president and the head of its Financial Protection & Wealth Management division, will also join the AXA Equitable board.
Jennifer Blevins , 53, who has decided to retire after nine years as the company's Chief Human Resources Officer, during which she played a significant role in the development and launch of a number of global HR initiatives.
In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation's premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including, AXA Advisors, LLC. The company's products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.
AXA Equitable Names Two to Executive Management Team - PR Newswire (press release)
Expat guide to France: health care - Telegraph.co.uk
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No two health care systems in the Western world are the same. The French approach shows the usual Gallic individualism. It has worked well for its citizens, giving excellent all-round care and greater consumer choice than in Britain.
Access to new drugs is less restricted than in the UK, hospital patients can expect not to succumb to MRSA or other infections. France has a centuries-long tradition of pioneering research, including the virologist and 2008 Nobel prize winner Luc Montagnier, who isolated HIV, the trigger for Aids.
Life expectancy at birth in France is 80.7 years, but Britain is close behind at 79.4 years. The difference is almost entirely accounted for by greater longevity among French women. They outlive their UK counterparts by 2.5 years.
Expat guide to France: health care - Telegraph.co.uk
AIA Appoints Human Resources Chief - Trading Markets (press release)
Khoo had been the regional head of human resources for Prudential Corporation Asia, the regional unit of the British insurance group Prudential plc, where she was based in Hong Kong for six years before joining Axa.
AIA, which as total assets of US$90 billion, has more than 300,000 agents and 24,000 employees across 15 markets in the Asia/Pacific region. The insurer also has more than 23 million individual policies and 10 million participating members of group policies.
AIA floated its shares in Hong Kong at the end of October 2010 after Prudential plc failed to acquire the group in June with an offering price of US$35.5 billion (BestWire, June 7, 2010).
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AIA Appoints Human Resources Chief - Trading Markets (press release)
Australia’s Tower accepts Dai-ichi’s $1.2 billion offer - Reuters
NEW YORK (Reuters) - The S&P 500 headed for its best December in nearly two decades as U.S. stocks advanced in thin trade on Wednesday, lifted by investor optimism about the economy in 2011.
CHICAGO (Reuters) - You likely won't ever see a football player on a fashion runway. Or mistake a hoodie for haute couture. That's fine for Ahmed Mokhtar, who just wants to make comfortable and affordable athletic clothing.
LOS ANGELES (Reuters) - After record solar-plant approval in 2010, the California Energy Commission believes its "big push" in solar-thermal projects is over.
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Australia's Tower accepts Dai-ichi's $1.2 billion offer - Reuters
Bharti AXA ties up with 39 hospitals in Nashik - Sify
As part of its expansion plans in health insurance segment, Bharti AXA General Insurance Company Ltd, a 74.26 joint venture between Bharti Enterprises and AXA Group, has tied up with 39 hospitals in Nashik where its customers can avail of cash facility.
With these tie up, the company has covered total 881 hospitals across Maharashtra including general hospitals, super speciality, oncology treatment centres, ENT clinics, cardiac and criticare units.
With these tie up, the company has covered total 881 hospitals across Maharashtra including general hospitals, super speciality, oncology treatment centres, ENT clinics, cardiac and criticare units. "We are strengthening our focus on emerging markets across the country through an expansion of distribution network and constant product innovation to suit the customersâ demand. As part of this, we have tied up with 39 hospitals in Nashik," Sanjay Radhakrishnan, vice-president, Western India, Bharti AXA General Insurance, said at a press conference here. These 39 hospitals include, Wockhardt, Suyash, Shatabdi, Vijan Cardiac & Critical centre, Chopda Medicare & Research Centre, Life Care, Rishikesh Medical Foundation & Research Centre, Ramalayam, Sahajeevan and Sahyadri hospitals. Western Region, which includes Maharashtra, Goa, MP and Gujrat states, contributes 35 per cent of Bharti AXA General Insuranceâs total business in the country. In Western Region, around 68 per cent business comes from Maharashtra alone. The company has 9 branches in Maharashtra.
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Bharti AXA ties up with 39 hospitals in Nashik - Sify