AXA Equitable Launches Third Distribution Channel
January 14 2008 - 10:32AM
PR Newswire (US)
New Corporate Markets Business to offer Retirement Plan Strategies
and Solutions to Large Corporations NEW YORK, Jan. 14 /PRNewswire/
-- AXA Equitable Life Insurance Co. announced today that it has
launched a new distribution channel, Corporate Markets, focused on
providing retirement plan strategies and solutions for Fortune 1000
corporations and their employees. The announcement was made by
Christopher "Kip" Condron, Chairman and Chief Executive Officer of
AXA Equitable. Corporate Markets is run by Executive Vice President
Bill McDermott, who joined AXA Equitable in September after
spending 11 years with Fidelity Investments. The channel provides
employers with resources to help their employees at every stage of
the retirement planning process -- offering education, ongoing
support and guaranteed income solutions to individuals as they
accumulate retirement assets in their 401(k) plans, and transition
to the distribution phase at retirement. "AXA Equitable takes a
comprehensive approach to addressing the retirement planning needs
of our customers. The launch of this business complements our
existing retail and wholesale distribution channels, and further
positions AXA as a leading provider of retirement planning
strategies, education, products and services for individuals, the
financial services market, and now large corporations and their
employees," said Mr. Condron. "Retirement planning is no longer
just for the 77 million baby boomers who will cross over from
working to retired in the next 20 years," said Mr. McDermott.
"Individuals are now preparing for retirement at an earlier age.
With defined benefit plans becoming rare, the uncertainty about the
future of Social Security, and increasing life expectancies
accompanied by rising medical costs, people at all stages of the
retirement planning process are concerned about their long term
financial security." Mr. McDermott continued, "Individuals are
looking for guarantees -- at each stage of the process. They also
want education, service, and ongoing support, and they want it
through their employers -- that's what our Corporate Markets
business provides." Guarantees are based on the claims-paying
ability of AXA Equitable Life Insurance Company, NY, NY. Securities
are offered through an affiliate, AXA Advisors, LLC. About AXA
Equitable In business since 1859, AXA Equitable Life Insurance
Company (formerly The Equitable Life Assurance Society of the
United States) is a leading financial protection company and one of
the nation's premier providers of life insurance, annuity and
investment products and services. AXA Equitable's assets under
management totaled $862.2 billion as of June 30, 2007. Its products
and services are distributed to consumers through its retail
distribution channel, AXA Advisors, LLC; to the financial services
market through its wholesale distribution channel, AXA
Distributors, LLC; and to corporations and their employees through
its corporate distribution channel, Corporate Markets. AXA
Equitable and AllianceBernstein, L.P. are affiliated companies.
AllianceBernstein L.P. is one of the largest publicly traded global
asset management firms in the world. AXA Equitable is part of the
global AXA Group -- a worldwide leader in financial protection
strategies and wealth management. AXA Group's operations are
diverse geographically, with major operations in Western Europe,
North America, and the Asia/Pacific region. AXA Group is listed as
the 15th largest company in the world on the 2007 Fortune Global
500 list, and had $1.86 trillion in assets under management as of
June 30, 2007. The AXA ordinary share is listed on the Paris Stock
Exchange and trades under the symbol AXA. The AXA American
Depositary Share is also listed on the NYSE under the ticker symbol
AXA. AXA Equitable is a sponsor of the Variable Annuities Knowledge
Center (http://www.variableannuityfacts.org/), an online resource
aimed at helping consumers understand the facts surrounding
variable annuities. The Variable Annuities Knowledge Center is
operated by a standalone non-profit organization and is overseen by
an independent advisory board. DATASOURCE: AXA Equitable Life
Insurance Co. CONTACT: Jo Ann Tizzano, +1-212-314-2979, , or Mary
Taylor, +1-212-314-5845, , both of AXA Equitable Life Insurance Co.
Web site: http://www.axa-equitable.com/
http://www.variableannuityfacts.org/
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