AXA plans to enter top five insurance companies in Serbia - Jobs for 500 people in Serbia until 2015

(Antonio Marchitelli)

The multinational insurance group AXA is going to open its first branch office in Serbia on July 16th. As announced earlier by that insurance giant headquartered in France, Belgrade will be the center of their operations in the Balkans.

As announced Thursday by Director General for the Balkans Antonio Marchitelli, AXA plans to position as high as possible in the Serbian market over the next two years in order to enter top five insurance companies in our country until 2015.

As Marchitelli explained for eKapija, AXA has so far invested about EUR 20 million in Serbia, including the acquisition of Credit Agricole Life insurance company, and it will continue to invest in accordance with the development of its business.

According to the plan, the company expects to employ 500 people in Serbia until 2015, most of whom Marchitelli expects to be hired next year. However, the company's aim is not only to open as many offices as possible, but also to advocate the multichannel sales methodology.

Insurance policies (both life and non-life ones) will be available through banks - so-called bank-channels, brokers, and AXA is interested in corporate cooperation as well.

Ivan Radojcic, marketing and sales director at AXA Osiguranje, says for our portal that they also plan to open franchise agencies, which would operate under the AXA brand.

As we learned, negotiations with two entities interested in setting up such agencies are already underway.

AXA Zivotno Osiguranje (Life Insurance) entered the insurance market of Serbia in September 2010 by taking over the insurance company Credit Agricole Life.

The National Bank of Serbia also issued a work permit to the shareholding insurance company AXA Nezivotno Osiguranje (Non-life Insurance) in June.

AXA multinational group operates in 60 countries and has 95m clients. It is active in the sectors of property insurance, life insurance and funds management, and its annual revenues average EUR 90 billion.