Philippine AXA Life Insurance Corporation has completed the 100 percent acquisition of Charter Ping An Insurance Corporation for the consolidation of the insurance businesses of GT Capital Holdings, Inc. AXA first announced its intention to purchase the non-life insurance company from GT Capital Holdings, Inc. (GT Capital) on November 5, 2015. AXA Philippines is a joint venture between GT Capital, the AXA Group, and First Metro Investment Corporation (FMIC), a subsidiary of Metropolitan Bank & Trust Company (Metrobank). “The purchase of Charter Ping An allows us to complete our proposition to offer a full spectrum of financial protection to all our customers,” said AXA Philippines president Rahul Hora. He added that “customers can now be well-protected across all stages of their life journey, with AXA providing a comprehensive suite of products be it in life insurance, savings and investment, health coverage, or property and casualty insurance. We will now focus [...]
