AXA and BMPS Finalize Their Partnership Agreement on the Italian Financial Protection Market
October 19 2007 - 1:58PM
PR Newswire (US)
PARIS, Oct. 19 /PRNewswire-FirstCall/ -- AXA and BMPS announced
today that they have successfully finalized their long-term
partnership agreement in life and non-life bancassurance as well as
in pension business in Italy. As part of this partnership, AXA
acquired 50% of MPS Vita (life and savings) and MPS Danni
(P&C), 50% of BMPS open pension funds business and will take on
the management of the insurance companies' assets (Euro 13 billion
as of year-end 2006) and open pension funds' assets (Euro 0.3
billion as of year-end 2006). The transaction, which was announced
on March, 23, 2007, received all necessary regulatory approvals,
and closed on October 19, 2007. About AXA AXA Group is a worldwide
leader in Financial Protection. AXA's operations are diverse
geographically, with major operations in Europe, North America and
the Asia Pacific area. For full year 2006, IFRS revenues amounted
to Euro 79 billion and IFRS adjusted earnings amounted to Euro
5,140 million. The AXA ordinary share is listed and traded under
the symbol AXA on the Paris Stock Exchange. The AXA American
Depository Share is also listed on the NYSE under the ticker symbol
AXA. About BMPS The Monte dei Paschi di Siena Bank, founded in 1472
as a Monte di Pieta (Pawn agency) to lend aid to the
underprivileged classes of Siena, is considered the oldest bank in
the world. Today it is the leader of one of the top five banking
groups in Italy, with significant market shares in all the sectors
in which it operates. The MPS Group is active all over Italy and in
the major international financial centres, with operations ranging
from traditional banking activity to asset management and private
banking (mutual funds, wealth management, pension funds, and life
insurance policies), from investment banking to innovative business
financing (project finance, merchant banking, and financial
counseling), with a special vocation for "family" accounts and
small and medium businesses. With more than 24,000 employees, more
than 1,900 branches, and a well-organized structure of channels of
distribution, including a sizable network of financial promoters,
the Monte dei Paschi di Siena Group offers its services to some
four million customers. This press release is available on the AXA
Group web site: http://www.axa.com/ and on the MPS Group web site:
http://www.mps.it/ AXA INVESTOR RELATIONS: Etienne Bouas-Laurent:
+33.1.40.75.46.85 Paul-Antoine Cristofari: +33.1.40.75.73.60
Emmanuel Touzeau: +33.1.40.75.49.05 George Guerrero:
+1.212.314.28.93 AXA MEDIA RELATIONS: Christophe Dufraux:
+33.1.40.75.46.74 Clara Rodrigo: +33.1.40.75.47.22 Laurent
Secheret: +33.1.40.75.48.17 Armelle Vercken: +33.1.40.75.46.42 Mary
Taylor: +1.212.314.58.45 BMPS INVESTOR RELATIONS: Alessandro
Santoni Tel: + 39 0577 296477 BMPS MEDIA RELATIONS: David Rossi
Tel: +39 0577 299927 AXA DISCLAIMER Certain statements contained
herein are forward-looking statements including, but not limited
to, statements that are predications of or indicate future events,
trends, plans or objectives. Undue reliance should not be placed on
such statements because, by their nature, they are subject to known
and unknown risks and uncertainties. Please refer to AXA's Annual
Report on Form 20-F and AXA's Document de Reference for the year
ended December 31, 2006, for a description of certain important
factors, risks and uncertainties that may affect AXA's business. In
particular, please refer to the section "Special Note Regarding
Forward- Looking Statements" in AXA's Annual Report on Form 20-F.
AXA undertakes no obligation to publicly update or revise any of
these forward-looking statements, whether to reflect new
information, future events or circumstances or otherwise. BMPS
DISCLAIMER Please refer to BMPS's Annual Report for the year ended
December 31, 2006, for a description of certain important factors,
risks and uncertainties that may affect BMPS business. BMPS
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information,
future events or circumstances or otherwise. This document does not
constitute an offer or invitation to purchase or subscribe for any
shares and no part of it shall form the basis of or be relied upon
in connection with any contract or commitment whatsoever.
DATASOURCE: AXA Group CONTACT: AXA Investor Relations, Etienne
Bouas-Laurent, +33.1.40.75.46.85, Paul-Antoine Cristofari,
+33.1.40.75.73.60, Emmanuel Touzeau, +33.1.40.75.49.05, George
Guerrero, +1.212.314.28.93; or AXA Media Relations, Christophe
Dufraux, +33.1.40.75.46.74, Clara Rodrigo, +33.1.40.75.47.22,
Laurent Secheret, +33.1.40.75.48.17, Armelle Vercken,
+33.1.40.75.46.42, Mary Taylor, +1.212.314.58.45; or BMPS Investor
Relations, Alessandro Santoni, + 39 0577 296477, ; or BMPS Media
Relations, David Rossi, +39 0577 299927, Web site:
http://www.axa-equitable.com/ http://www.mps.it/
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