Axa Investment Management has broadened the number of its funds which are available in Asia, registering a range in Singapore for the first time and making a further seven available to investors in Hong Kong.
Axa Wealths specialist sales team, which looks after the sale of offshore bonds into the UK, is set to be shrunk further, International Adviser can reveal.
It’s not whether to change but when, says Axa Wealth Intl’s Simon Willoughby, as he takes a look at the more long term impact of the Retail Distribution Review.
Shareholders at Abu Dhabi based Green Crescent Insurance have approved an alliance with Axa and its Middle Eastern partner Kanoo Group.
Axa Wealth International grew offshore assets in the first quarter of this year in spite of “many challenges” continuing in the post RDR environment.
Since the global financial crisis in 2008, a handful of life companies in Luxembourg have seen their businesses flourish, as high- and ultra-high-net worth individuals in certain European markets have turned to a type of single premium bond marketed by these insurers as a safe and tax-efficient place to park their wealth.
Insurance brokers in Dubai will shortly be able to apply to participate in the Emirates soon-to-be-commenced mandatory health insurance programme.
New research has found the proportion of offshore portfolio bonds written on-platform doubled in just one year.
Axa Investment Managers has strengthened its Asian fixed income team appointing Jim Veneau as head of credit Asia and Christy Lee as a portfolio manager.
Axa Hong Kong (Life) and Axa Singapore (Life) are to target Asia’s growing number of high net worth individuals with a new range of products and services, and have named David Varley to oversee the operation.
It has been confirmed that Axa and its Middle East partner the Kanoo Group have agreed a deal to buy a significant stake of Abu Dhabi based Green Crescent Insurance Company.
Sales grew by more than 10% last year for Axa Wealth International, despite anticipated headwinds caused by the introduction of the new Retail Distribution Review legislation in the UK.
