AXA AND BMPS JOIN FORCES IN THE ITALIAN BANCASSURANCE AND PENSIONS MARKET

AXA and BMPS announce today that they have reached an agreement for the establishment of a long term strategic partnership in life and non-life bancassurance as well as pensions business.

“This partnership with AXA is a great opportunity to consolidate and further strengthen BMPS’s position in the Italian bancassurance and pensions market” said Mr. Giuseppe Mussari, Chairman of BMPS. “I believe that BMPS’s customer franchise coupled with AXA’s global leadership in financial protection will result in a new leading player able to offer the best products and services, and to capture all opportunities in the Italian bancassurance and pensions market. Joining forces with AXA” Mr. Mussari added “also paves the way for BMPS further international development”.

“This partnership with BMPS is an excellent opportunity to gain a leading position in the Italian life & savings market, and thereby to further increase the diversification and the growth profile of the Group,“ said Henri de Castries, chairman of AXA’s Management Board. “I am convinced that the cultural fit between our organisations, the strength of BMPS’s distribution network and AXA’s know-how in terms of offer innovation and quality of service to distributors will generate strong and profitable growth for the new partnership”.