Saturday, October 15, 2005

FRENCH INSURANCE COMPANY AXA OPERATES IN TURKEY TOO

On October 4 and 6, daily Azg informed that the French Axa Insurance Company will pay $ 17 million to descendants of policyholders who perished during the Armenian Genocide. The descendants had earlier filed a class action lawsuit in California against Axa demanding compensation. The company then agreed to pay by the end of the proceedings. The sides signed an agreement.

In accordance with the agreement, Axa is going not only to pay the owing $17 million but also provide aid of several millions to Armenian charity organizations in France. Allegedly, the court of California will make a decision in November based on the sides' agreement.

On October 13, Turkish Public TV aired about this agreement; Zaman paper's response came on 14th. As it transpired from Turkish response, Axa has a branch in Turkey called Axa-Oyak.

Read the rest of the article on AZG

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