AXA Insurance

By: EconomyWatch   Date: 14 September 2009

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AXA Insurance is a leading general insurer in the UK and the nation’s second largest insurance services provider to small and medium enterprises. The company offers a wide range of personal and commercial products that are distributed mainly through brokers. AXA Insurance underwrites many products for some of the most popular British brands.

AXA Insurance: History

The origins of AXA Insurance Group can be traced back to the 18th century. Many companies created during the 1700-1900 period, such as Royal Exchange Assurance, Sun Life and Guardian Assurance, later became parts of the future global AXA Insurance Group.

 

After a series of acquisitions and mergers involving some of the leading insurance providers in the world‚ the brand AXA was introduced in 1985. In 1996, AXA was listed on the New York Stock Exchange (NYSE). Sun Life and Provincial Holdings (SLPH) is listed on the London Stock Exchange (LSE). In 2000, AXA acquired SLPH (delisting it from the LSE). The company was renamed AXA UK plc. In 2006, the AXA head office was moved to 5 Old Broad Street, London.

AXA Insurance: Products

The major offerings by the insurer include:

  • Home insurance: AXA Insurance provides a standard limit for coverage of contents (£60,000) and buildings (£1,000,000) so that customers do not have to calculate the value of their property. If one has not made a claim for 5 years and buys AXA building and contents insurance online, s/he is entitled to a 50% discount.

  • Travel insurance: AXA travel insurance provides coverage for cancellation or curtailment of a trip. Also, the policyholder is covered for emergency medical expenses and hospital benefits (including non-medical costs incurred while in hospital). Other additional options, such as baggage insurance, delayed departure compensation and accident insurance, are also available. The online purchase of AXA travel insurance makes the policyholder eligible for a 20% discount on the premium.

  • Pet insurance: The AXA pet insurance plan for cats and dogs covers the veterinarian's fees, treatment for behavioural conditions, complementary therapies and cost of a clinical diet. Also, one can claim a limited amount for expenses on advertising and reward if the pet is missing.

Based in London, AXA Insurance is expanding its presence in the direct market, not only through its own online space, but also through Swiftcover, its 100% online subsidiary.

 


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