Late Awareness of AXA Group to Release Asset in Tobacco Industry

AXA group which is known as the large insurance industry made a surprising decision. This big world class insurance company decided to release its all asset in tobacco industry for moral reason. This seems to be a late awareness of AXA opting to withdraw its obligation estimately 200 billion euro. 

AXA said that the company realized to support the campaign of health and withdrawing its obligation was just moral reason. It is just  a paradox that this company recognized as big insurance company contrarily engaging in investment for tobacco industry. On the other hand it campaigns for the health yet precisely it ruins indirectly the health itself by supporting tobacco indsutry. 

We strongly believe that insurance companies play a positive role in people's lives, and the insurance company is part of the solution to prevent health risks in order to protect customers, "said Deputy CEO of AXA Thomas Buberl in an official statement on Thursday (23/06/2016).

According Buberl, departing from that reason, it becomes absurd if it continues to support investment in the tobacco industry. By releasing the tobacco assets, we realize our contribution to support the efforts of governments around the world.

"This decision is not favorable for us, but the reason to go public is very obvious, the impact caused by tobacco is very tragic and its economic impact is also great.

As a major investor and leader in the world of health insurance, AXA Group wants to be part of the solution, and our expectations of other actors in the industry is doing the same thing, "said Buberl.

AXA Group's data show, the long-term non-communicable diseases (NCDs), including cancer, heart disease, and chronic respiratory disease, has risen sharply and is currently responsible for 68 percent of deaths worldwide Jasus.

For cancer alone, unhealthy lifestyle contribute as much as nearly 50 percent of cases of malaria.

"In line with the increasing NCD cases, the role of a health insurance company AXA has changed, prevention becomes a very important thing, in tune with the increasing use of technology," said Buberl.