French insurance group AXA announced that following the statement issued by EIOPA - the European Insurance and Occupational Pensions Authority - on April 2, 2020 relating to dividend distributions during the Covid-19 pandemic, the Chairman of AXA's Board of Directors convened an extraordinary meeting of the Board of Directors to consider EIOPA's recommendations.

"At that meeting, the Board of Directors decided to postpone AXA's Shareholders' Meeting from the initial scheduled date of April 30, 2020 to June 30, 2020, to allow time for discussion with the European, French and other insurance regulators".

At the same time, as the COVID-19 crisis continues to spread globally the French insurer AXA announced the strengthening of its action plan to tackle the health, economic and social emergency.

"The world is going through a crisis that will stand in collective memory. In an unstable environment, AXA has been fully mobilized since the outbreak of the pandemic to respond to two challenges: the health emergency, by protecting its employees and clients, and the economic and social emergency, by ensuring the continuity of a business that is essential to society. In line with our mission, and consistent with the actions taken by public authorities around the world, we are announcing today new commitments to reinforce the impact of initiatives already underway", said Thomas BUBERL, Chief Executive Officer of AXA.

Thus, AXA representatives pointed out that the crisis will have no impact on employment or on the remuneration of employees during the confinement period: "AXA will not use temporary unemployment. The Group also undertakes not to defer any social security or tax payments in France during the period".

More than that, in several countries, including France, AXA will continue to insure businesses even in the event of late payment due to the pandemic, for the duration of the containment period, and "will ensure prompt payment to all suppliers to enable them to maintain the cash and liquidity needed to overcome the crisis".

To strengthen its support for healthcare professionals on the frontline against the virus, AXA said that it will provide 2 million masks to help healthcare workers. At the same time, the French insurer will contribute with EUR 27 million, to the solidarity effort coordinated by the Federation Francaise de l'Assurance (FFA). "This is in addition to AXA partner association AGIPI's creation of the "AGIPI Covid 19 Solidarity Fund", endowed with Euro 10 million to support clients experiencing economic difficulties".