AXA CEO: Aim To Attract Clients From Distressed Companies
05 Août 2009 - 1:28PM
Dow Jones News
The current stock market situation isn't a determinant of French
insurer AXA SA's (AXA) decisions about whether or not to make
corporate acquisitions, the company's chief executive said
Wednesday.
Henri de Castries repeated to an analyst meeting that the
company's acquisition policy remains to make opportunistic
purchases of businesses that fit the strategic and core profile of
the company.
The executive said that AXA at this time prefers to attract
clients away from what he termed distressed companies, who are
losing client confidence because of their financial state.
He said it is less expensive to pull clients in from competitors
than to make acquisitions that burden the balance sheet.
Company web site; www.axa.com
-By A.H. Mooradian, Dow Jones Newswires;
art.mooradian@dowjones.com.