A Look Into the AXA Philippines Income Opportunity

AXA Philippines is a family of insurance companies providing diverse products and financial services. It also undertakes cross-border operations with the other two big players in the Philippine insurance scene – Oriental Bank and RCBC Teleangas. It offers insurance products and related financial services in all segments in line with its broader commitment to meeting customers’ needs. The company’s core products and services are life and health insurance, commercial insurance, accident insurance, disability income insurance, family insurance, farm insurance, property insurance, industrial insurance, worker’s compensation, travel insurance and finance. Its major affiliate operations are in the following areas: Real estate, financial services, consumer and private products, investments, derivatives, specialty products, health care, life insurance, risk management, venture capital, women and children’s insurance, international trade and investments.

In terms of life insurance products, AXA provides plans for retirements, health plans, family plans, kids’ plans, term life, universal life, variable life and endowment life. Apart from these, the company also offers different variants like variable life, universal life, whole life, variable universal life, term life, etc. With the acquisition of Charter Ping-An in 2021, AXA now has over 3,300 financial experts in 32 local branches, and 7 regional offices nationwide. With the help of these experts, the company continues to strengthen its presence in the Philippine insurance market. With the continued expansion in its operations in terms of branch offices and sales offices nationwide, it is now the biggest life insurance company in the country.

In terms of investments, the company makes its bread and butter through its many subsidiary activities in different areas. Some of these include savings, investment, fixed income, fixed return and venture capital. It also has investment options like common stock market investing, derivatives, interest rate products, foreign exchange, mortgage, asset management, and international investments. These subsidiary activities have enabled the company to expand its offerings to a wide range of customers from different backgrounds and sectors.

As part of its diversified offerings, the company also has investments in the following industries – financial market, property, infrastructure and manufacturing. In terms of financial market, AXA Financial Group comprises of global banks and its European operations, as well as developing countries like Philippines, Singapore, Malaysia, China, India, South Africa, etc. The company also has operations in the Asia Pacific region. In terms of property, the company has joint ventures and investments in China and Hong Kong. It also has interests in the Middle East and Latin America. In terms of manufacturing, the company has global manufacturing facilities in China and Taiwan.

In line with continuing product development and diversification, the company has also increased its production capabilities. In this respect, it has signed agreements with ABS-CBN Corporation, Sunbeam Television Corporation, and Grupo Latino America to produce thematic and digital products for the Philippine markets. It also plans to manufacture sports equipment and medical supplies in the Philippines. The company has signed strategic agreements with JVZ Entertainment and ABS-CBN. The aim is to strengthen the presence of its flagship product – the Axa.

The company’s distribution system follows a two-tier system. First, it has direct sales in the Philippines through fulfillment centers and distributors. Second, it has indirect sales channels in the Philippines. These channels include direct-sales arrangements with retailers and merchandisers and indirect selling through retailers and agents. It also has an online retail website that promotes its products and services and sells gift cards and prepaid Visa/MasterCard gift cards.

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