AXA unveils big UAE growth plans
Dubai, May 5, 2013
AXA Gulf, one of the leading players in the UAE and regional insurance sector, has opened its new outlet at Dubai Mall in line with ts regional expansion strategy.
Part of the AXA Group, a global leader in insurance and asset management serving 102 million clients globally, the AXA in the Gulf has recorded strong financials with a growth of more than 20 per cent of its premiums reaching $626 million with a contribution from all the states.
Over the last few years, AXA has built the leading non-life international insurer in the GCC.
Commenting on the launch, chairman and CEO Henri de Castries said, "In a short period, AXA Gulf has grown from a small team of 150 employees to over 800 employees across the GCC, servicing in excess of 500,000 clients."
He pointed out that the insurance market in the region had a great future and said the group was committed to work with the regulatory bodies, partners and teams here, who have made its success possible.
"We aim to support the current business model here by leveraging AXA Group’s strengths," said de Castries during his one-day visit to the UAE.
“We have grown from strength to strength every year in the GCC, which remains one of our key growth markets. The region still records low insurance penetration levels, risk awareness of the population is increasing thus there are growing insurance needs to address," de Castries said.
“This region plays a pivotal role in our future expansion plans. The needs for insurance and risk management are ever increasing. Our objective in the region is to become the preferred insurance company for customers, distributors, employees and shareholders and ensure that AXA Gulf is fully aligned with the market needs,” he added.
AXA Gulf CEO Jérôme Droesch said, “We are well positioned to make the difference in the Gulf. We have continued to relentlessly pursue efficiencies and product innovations to extend competitive advantage and value for policyholders in the evolving market environment."
“We are committed to accelerate our growth in the region by engaging and building the capacities of nationals in the insurance sector. We are looking at aggressive expansion of our multi access model and notably our AXA Shops – we now have 16 shops in the region and planning to open more than 10 in 2013," he added.-TradeArabia News Service