Magazine date:
Feb 2016 AXA that acquired in November 2015, a majority stake in the local insurer Green Crescent Insurance is intent to market life products in the United Arab Emirates soon.
This commercialization will be embodied via the new entity, AXA Green Crescent. Underwritings may begin in the second or third quarter of 2016 when the strategy and training of local teams are finalized.
Axa is now present in all the countries of the Gulf Cooperation Council. It is planning to become one of the leading insurers in this region which currently has a low penetration rate and a growing middle class.