2005
(28/02/05) AXA announces with profits bonus rates
AXA has announced new with profits bonus rates, awarding £333 million in bonuses on approximately 1.6m with profits policies. The bonus rates announced today apply to customers investing in either the AXA Sun Life (ASL) With Profits Fund or the Sun Life Assurance Society (SLAS) With Profits Fund.
Regular bonus rates have been maintained at last year's levels on around two thirds of AXA Sun Life's 1.6m policies, while the remainder have been reduced by between 0.25% and 0.75%. Market Value Reductions (MVRs) have been reduced by between 3% and 6% on most policies. Many terminal bonuses remain unchanged or have been increased, while others have been reduced.
Commenting on the announcement, Peter Shelley, Chief Actuary at AXA, said: "A year of improved stock market conditions - where our funds returned positive growth of over 11% - has helped to start to reverse the recent downward trend in with profits returns. We are pleased to be maintaining bonus rates for the majority of with profits policies.
"As with profits funds work on a medium to long term basis due to the smoothing element within them, it is likely to take a further period of positive stock market performance before regular bonus rates could begin to climb again. Nevertheless, long term returns remain good on maturing policies, with a typical annual return of over 9% p.a. on 20 year pension policies and over 7.5% p.a. on 25 year endowment policies."
For full details of the 2005 bonus declaration, please download the attached Adobe Acrobat PDF file: 2005_Bonus_Declaration.pdf (size: 106kb , opens in a new window).
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About AXA
AXA is a world leader in financial protection. AXA's operations are diverse with major operations in Western Europe, North America and the Asia/Pacific area. AXA employs 120,000 staff and tied agents and, as of 31 December 2004, had €869 billion in assets under management. Reported total revenues for 2004 were approximately €72 billion. Our previous company performance is not a guide to how we may perform in the future.
AXA ordinary shares are listed on the Paris Stock Exchange; AXA American Depositary Shares (ADSs) are listed on the NYSE under the ticker symbol AXA.
AXA Sun Life Services plc, PO Box 1810, Bristol BS99 5SN. Telephone: 0117 989 9000 Fax: 0117 989 1810 AXA is a worldwide insurance group. In the UK, one of the AXA companies is AXA Sun Life Services plc which provides services to and represents only the members of the AXA Sun Life Marketing Group. Authorised and regulated by the Financial Services Authority. Registered in England No 3424940. Registered office: 107 Cheapside, London, EC2V 6DU. A member of the AXA Sun Life Marketing Group which markets life insurance, pension and investment products. As part of our commitment to quality service, telephone calls will be recorded.