AXA to transform its Swiss group life business, creating additional value for its customers and shareholders
AXA Switzerland ("AXA"), the largest insurer of SMEs in the Swiss market, announced today that it had entered into an agreement with its main occupational benefits foundations ("Foundations") to convert their business model from a full-value insurance (*) model to a semi-autonomous model, by the end of 2018 ("Model Transformation"). Beginning 2019, under the semi-autonomous model, death and disability provisions and administration services will continue to be covered by AXA, while the responsibility of asset allocation and investment returns to policyholders will be with the Foundations. AXA Group, as a globally renowned asset manager, will continue to offer investment management services to the Foundations.
Read the full story