AXA Group has completed the sale of its asset management unit, AXA Investment Managers (AXA IM), to BNP Paribas for €5.4 billion. The move aims to streamline AXA’s operations and focus on its core insurance offerings while keeping access to global investment expertise.
For AXA Philippines, a key market for the group, the transaction will not result in changes to customer services or existing fund arrangements. AXA IM will remain the fund provider for AXA Philippines’ investment-linked life insurance global funds, including the AXA Global Dynamic Allocation Fund and the AXA Global Edge Equity Fund. There are no immediate changes to AXA IM’s legal name, fund managers, fund names, or investment strategies.
“This strategic partnership allows us to tap into the global expertise of BNP Paribas while continuing to offer our customers the same expertise they expect from AXA,” said Ayman Kandil, president and CEO of AXA Philippines. “It aligns with our long-term vision to provide trusted, innovative, and effective solutions that will help Filipinos achieve their financial goals.”
Kandil added that customers can expect continued access to investment insights and fund performance monitoring, with no service disruptions.
The deal supports AXA Group’s goal of simplifying its business model to focus on Life and Savings, Property and Casualty, and Health insurance. While AXA IM becomes part of BNP Paribas, AXA Group, including AXA Philippines, will retain full control over product design, asset allocation, and asset-liability management.
Following the acquisition, BNP Paribas joins AXA as a long-term strategic partner. Together, they form a European asset management group with €1.5 trillion in assets under management, placing it among the top 10 global players, based on 2024 year-end disclosures.
AXA Philippines serves nearly 2 million customers through life and general insurance products. It is a joint venture between AXA Group, GT Capital Holdings, and Metropolitan Bank and Trust Company.