Having started its insurance activity in 1950 in Bahrain, AXA is now the no.1 non-life international insurer in the GCC. After 60 years of successful presence, AXA is more than ever convinced of the untapped opportunities in the Gulf and is set to answer the needs of the region.
To mark the significant occasion, AXA announced that it will continue investing in the Gulf region in order to strengthen its market leadership and to leverage the opportunities. AXA Gulf will continue its strategy to become the preferred insurer by further focusing on its quality of service, rolling out multi-distribution approaches and launching innovative products to cover all customer insurance needs.
Jean-Louis Laurent Josi, CEO AXA Gulf, said: “Our achievements have always been measured by the success of our clients, and we are pleased to offer creative ideas, global reach and highly flexible service capabilities over the region. While we recognize that the economy is experiencing a time of extraordinary change, we will continue to invest in our future and use our 60 years of strength and experience to help our clients with customized insurance solutions and help emerge stronger than ever”.
The company has achieved a strong performance in spite of the challenging times for the business with over USD 446 million GWP, made possible thanks to its business model, the trust clients have by placing their risk with the company and the fact that the growth plans have been ably supported with its strong partnership with the Kanoo Family.
“The last 60 years have seen us build trust and promote the importance of insurance in the Kingdom of Bahrain and the GCC. We are dedicated to combining all the resources of our companies and foundations to bring a better life to the people in our operating areas and beyond” said Abdullah Kanoo, Chairman of the Board.
AXA Gulf, which is among the top companies in terms of net earned premiums, is looking to further strengthen its brand awareness in the region and, with the recent granting of an operating license in the Kingdom of Saudi Arabia, AXA, through AXA Cooperative Insurance, is now set to market personal and commercial lines product suites in a rapidly growing economic environment.
The company is not only marking a milestone year in the Kingdom but also the beginning of a new era of possibilities in the region and beyond, according to Jean-Laurent Granier, CEO of AXA Mediterranean & Latin America.
Mr.Granier also added: “As a leading name in the business across the globe, our sixty years of success in the GCC is the direct result of a clear focus on customer service and knowledge of both insurance products and the issues that affect our clients in the real world. This unique recipe of expertise that grants AXA its robust position worldwide has contributed to our growth in the Gulf and combined with a standing presence for over half a century and a strong partnership with the Kanoo family, we have the necessary experience and local know-how required to stay ahead of our competitors.”
