Axa Switzerland becomes a member of the insurance association again
Published: Friday, Oct 4th 2024, 07:10
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Axa Switzerland is returning to the Swiss Insurance Association (SIA). After Axa, one of the largest insurance companies in Switzerland, turned its back on the association four years ago due to political differences, it will once again be an SIA member from January 1, 2025, the association announced on Friday.
SIA Director Urs Arbter is convinced that the re-entry of Axa Switzerland will lead to a strengthening of the SIA in the public eye. And President Stefan Mäder states: "As an industry, we must speak with one voice whenever possible in order to achieve appropriate framework conditions that reflect our importance to the economy and society."
The basis for a joint appearance by the subsidiary of the French Axa Group in the SIA no longer existed at the time of the break. The company wanted to "rethink its role in the political and social discourse". This was Axa's reason for leaving at the end of 2020.
Dörig as a problem?
Pointed comments on political issues by the association's president at the time, Rolf Dörig, were probably the real reason for his resignation. Dörig handed over the presidency to Mäder in mid-2023.
"We are pleased to see that the framework conditions are in place for us to rejoin the SIA as a leading all-lines insurer," Axa Switzerland CEO Fabrizio Petrillo was quoted as saying on Friday. After the Annual General Meeting on June 20, 2025, Axa Switzerland will also be represented on the board of the insurance association again. It is quite possible that CEO Petrillo will take on the tasks himself.
Axa Switzerland is a heavyweight in the Swiss insurance landscape. According to the SIA, the Group was number two in the non-life insurance segment in 2023 with a market share of 16.4% behind Mobiliar. In the accident insurance business, it occupied the top position with 18.7%, while it is also an important player in life insurance (8.2%) and supplementary health insurance (5.2%).
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