FAQs on AXA-CPAIC intent to merge

What is a merger?
A merger is a transaction in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. Simply put, a merger is a combination of two companies into one.

What is the AXA-CPAIC merger all about?
In 2016, AXA Philippines acquired Charter Ping An Insurance Corporation (CPAIC), one of the top five non-life insurance companies in the country. Since then, the process of completing the integration has been ongoing to become one of the very first major insurers in the Philippines to offer both life and non-life products under one roof, so you only need to remember one name for all your insurance needs. Since then, CPAIC has been officially operating under the AXA brand. This proposed legal merger is the last step on the journey towards fulfilling both companies’ vision to become a one-stop shop for all your insurance needs.

I have an insurance policy under CPAIC. What should I expect?
Customers of CPAIC can expect the same exceptional level of service under AXA.

The first ‘AXA’ Branch, which is what we call a branch that can serve both life and general insurance customers, opened in San Fernando Pampanga, followed by Binondo in 2018, and in 2019 Makati, Iloilo, Bacolod, Caloocan, Santiago Isabela, and Bulacan. We will also be transitioning all AXA and CPAIC branches to prepare them to serve both life and general insurance customers. This year we have converted our Naga, Tarlac, Dagupan, and Calamba service centers into AXA Branches and will convert more branches in the future.

What happens to the insurance policies from either under AXA or CPAIC?
All policies under either AXA Philippines or CPAIC which were existing prior to approval by the Securities and Exchange Commission (SEC) of the merger shall remain valid and subsisting (in accordance with such policy’s relevant terms and conditions). Your insurance policy with us will still be active and in-force and will not be affected by this merger.

For insurance policies that will be issued after the SEC’s approval of the merger, these will be honored and serviced by the surviving entity, which is AXA Philippines.

What prompted this merger?
The merger was prompted  by a shared vision between AXA and CPAIC to give our customers better access to insurance and protection to safeguard everything that matters to them. Whether it’s life, health, or assets, our complete suite of insurance products is designed to address your needs.

How does this merger benefit AXA’s customer base?
This merger will make it easier and more convenient for our customers to protect what matters in their lives as they would need to remember and go to only one insurance company for any kind of insurance product they would need, whether it’s life insurance, a health plan, a car insurance, or financial protection for their business or home.

What is a composite license, and why is it important that AXA has it?
A composite license awarded to an insurance company authorizes it to offer both non-life and life insurance simultaneously. Non-life insurance products include car insurance, home insurance, business insurance, etc. whereas life insurance pertains to products like health plans, savings and investment plans, and term-life insurance. The possession of a composite license enables AXA to offer a full range of vital insurance products and services to our policyholders who can then create security that will protect them, their families, their businesses, and their properties, such as vehicles and homes. In contrast, another insurance company that does not have composite license can only give customers limited options, which can in turn compel them to go through the inconvenient process of purchasing various insurance policies from several insurance companies.

What products and services does AXA offer now?
We know how important it is to protect all that matters to you – and so now we would be able to provide customers with a full suite of insurance products: life, income protection, health, education, retirement and investment, home, auto, travel, marine and cargo, and commercial business.

Can I get a life insurance product in the general insurance branch and vice versa?
To help you protect all that matters to you, some of our distributors and/or agents are now equipped to offer and manage both life and general insurance products.

We are also continually expanding our scope to ensure that all our branches will soon be able to respond to the life and non-life needs of our customers.

I only have one policy under AXA Philippines and/or CPAIC. Given AXA’s planned composite license, how can I expand and increase my policies?  For example, I only have life insurance but given the new developments in AXA, I would like to have home security as well. How can AXA help me?
We would love to hear from you.  First, if you already have an existing policy and want to diversify or expand it, contact your insurance agent as he or she is your designated account manager who is tasked to take care of your requirement, and will be able to discuss with you all our other insurance offers, to ensure you are able to protect all that matters to you. You may also browse our website at www.axa.com.ph to find details on our insurance products, as well as buy some of them directly from our website with no need for agent assistance.

You can also reach us through our customer service hotline (02) 8 5815-292  or email customer.service@axa.com.ph and through our Emma by AXA PH app. Download and register to the Emma by AXA PH app now so you can view your policies anytime, pay online, get free 24/7 access to Rescue Line, and more!

Will the AXA Philippines and/or CPAIC branches continue to service us?  What changes can we expect from them?
Your neighborly and familiar AXA branches will still remain near you to answer your queries and respond to your needs. What has changed and which you can see are improvements that will give you better service. Our qualified, competent branch personnel, professional insurance agents, and branch managers will be ready to assist you.  Transacting all these life and non-life products and services are quicker and efficient. In light of this intended merger, our CPAIC branches are being transformed into and will be AXA Branches, servicing both life and non-life insurance customers under one roof.

Will there be a change in my agent or distributor?
Your agent or distributor does not have to change due to this intended merger.

Are there other faster ways by which we can monitor the status of our policies?
At present, customers can view their life insurance policies on their Emma by AXA account, accessible via app or website. Future improvements on the customer portal and mobile app include providing customer access to their non-life insurance policies.

I might have a difficult time visiting an AXA Branch to conduct my transactions or keep up with my payments. How can I make sure that this process is not disrupted and that my transactions are ongoing and protected?
AXA has leveraged on the power of the digital space to give you accessibility and updated information to your insurance policies. Through our app Emma by AXA PH, you can - through a digital device like a smart phone - easily check the following: current account value, due payment dates, and other payment information.  You can also pay online in the comfort of your home or office. Emma by AXA PH also enables you to contact your financial partner or insurance agent should the need arise.

Is this merger already official and complete?
Not yet. Approval from the Securities and Exchange Commission (SEC) is needed to consider the merger complete. We are looking at the first or second quarter of 2022 to hear the decision of the SEC on this matter.

Once the merger has been approved by the SEC, AXA Philippines and CPAIC shall become an single corporation. AXA Philippines shall be the surviving corporation. AXA Philippines shall assume all of CPAIC’s assets, liabilities, rights and obligations.

If I have questions about my policy, who do I contact? How will general insurance/non-life insurance customers reach customer service?
Both life and non-life insurance customers will only need to remember one customer care hotline: (02) 8 5815-292, one email address: customer.service@axa.com.ph and one website: www.axa.com.ph