AXA Named the World’s Number One Insurance Brand for the 10th Year in a Row
Press release
AXA has been recognised as the no. 1 insurance brand for the 10th year in a row by the leading consultancy firm Interbrand.
AXA has been recognised as the no. 1 insurance brand for the 10th year in a row by the leading consultancy firm Interbrand.
To be included in the Best Global Brands, a brand must be truly global, having successfully transcended geographic and cultural boundaries. It will also have expanded across the established economic centres of the world and entered the major growth markets.
In addition, at least 30 percent of revenue must come from outside of the brand’s home region and it must have a significant presence in Asia, Europe, and North America as well as broad geographic coverage in emerging markets.
There must also be sufficient publicly available data on the brand’s financial performance and profit is expected to be positive over the longer term, delivering a return above the brand’s cost of capital.
Importantly, the brand must have a public profile and awareness across the major economies of the world.
“AXA in the Gulf has continuously proven its dedication to service excellence and strives to be a true partner for life for its customers. We stand out as delivering on the promises we make, something which has seen us acknowledged as a global leader in the insurance sector,” said Cédric Charpentier, Chief Executive Officer AXA Gulf.
AXA is one of the largest international players in the GCC having operated in the region for more than 68 years. AXA recently joined forces with Liverpool Football Club (“Liverpool FC”) one of the most famous names in the English Premier League. AXA will be the club’s Official Global Insurance Partner in this multi-year partnership.
“Liverpool FC provides excellent global brand visibility, helping raise AXA’s profile amongst sports fans around the world.
“Working closely with Liverpool FC’s players, manager, coaches and health professionals, AXA will create unique and relevant content that will help support the shared goal of promoting a healthy lifestyle,” said Cédric Charpentier, Chief Executive Officer AXA Gulf.
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Background Information
AXA Gulf
VAT or Value Added Tax is a form of consumption tax that is imposed on a transnational level. The GCC has agreed to apply a uniform standard rate of 5%. This standard rate will apply to almost all domestic transactions. UAE and KSA will implement VAT on 1 January 2018, and the other GCC countries are expected to implement in the following 12 months.
In limited instances VAT can also apply at 0% (zero-rate), or transactions can be exempt from VAT, or out of scope.
How it works is that taxable businesses are generally able to recover the VAT they incur on their purchases and expenses.
However, as individuals, we are the final point of the supply chain and therefore, will bear the cost as we are not able to recover the VAT.
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