Axa opens a new subsidiary dedicated to parametric insurance

Axa has established a new subsidiary specializing in index insurance. Named Axa Global Parametrics, the new entity allows the French group to broaden its coverage scope to include small and medium-sized enterprises (SMEs) as well as individuals. Axa Global Parametrics has been run, since 1 March 2017, by Tanguy Touffut.

As a reminder, the first French insurer already markets, via its subsidiary Axa Corporate Solutions, parametric agricultural policies in 28 countries. Nearly 40% of the turnover of this activity is underwritten in Asia.

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