AXA Philippines unaffected by BNP Paribas move

MANILA, Philippines — Insurance and financial service provider AXA Philippines announced that there will be no changes in its investment-linked insurance products and fund management following the billion-euro deal acquisition of AXA Investment Managers (IM) by French banking giant BNP Paribas.

The company assured clients that despite the transition in ownership, operations in the country will remain uninterrupted and stable.

“For AXA Philippines, as one of the AXA Group’s key markets, this means that while transitions are in place, customers can expect uninterrupted service and continued stability,” AXA Philippines said in a statement.

“There will be no immediate changes to AXA IM’s business, its legal entity name, fund managers, fund names and investment strategies,” it added.

The statement comes after the €5.4-billion sale of AXA IM to BNP Paribas, a move aimed at strengthening AXA’s investment capabilities while continuing to deliver strong value to customers through enhanced global expertise and uninterrupted fund management services.

AXA IM will continue to manage AXA Philippines’ global funds, including the AXA Global Dynamic Allocation Fund and the AXA Global Edge Equity Fund, offered in both peso and dollar denominations.

The sale is part of the Group’s broader strategy to streamline its operations and focus on core insurance segments, which are life, savings, property, casualty and health.

It will retain control over product design, asset allocation and asset-liability management, ensuring continued oversight of its offerings in the Philippine market.

AXA Philippines president and CEO Ayman Kandil said the partnership supports the company’s long-term vision of delivering trusted, innovative solutions, while leveraging BNP Paribas’ global expertise to help Filipinos reach their financial goals without disrupting existing services.

“Our customers can be assured that their investments remain in good hands and that there will be no disruption in fund performance monitoring, customer support, or access to investment insights,” he said.

The merger of AXA IM and BNP Paribas creates a leading European asset management powerhouse, overseeing €1.5 trillion in assets and ranking the combined entity among the world’s top asset managers.

Established in 1999, AXA Philippines is a joint venture between the AXA Group and GT Capital Holdings Inc.