AXA Art not part of Intact-AXA deal

The global art and collectibles insurer remains a wholly owned subsidiary of AXA Group.

The recent sale of AXA Group’s Canadian property, casualty and life insurance businesses to Intact Financial will not affect AXA Art Insurance, as it was not included in the deal.

Instead, the global insurer of art and collectibles remains a wholly owned subsidiary of Paris-based AXA Group and will continue to serve the Canadian market as such, according to Ann-Louise Seago, vice president and senior fine art underwriter.

AXA Art Insurance Corporation currently reinsures 100% of the risks written in Canada under the AXA Canada banner, stated a media release. That arrangement will continue with Intact after the acquisition until the end of 2012. Also, there will be no changes to rates, premiums or coverages.

Brokers doing business with AXA Art will not be required to have a new contract with Intact.

“You do not need any contract to work with us at AXA Art,” stated the release. “We wish to work with all brokers whose clients may benefit from our art and collectibles products and services.”

For additional information on how the recent sale might affect AXA Art, click here.

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