Insurance group AXA has announced that its general and life insurance businesses have been merged into a single entity under AXA Insurance Pte Ltd.

The conssolidation was carried out through a scheme of transfer which was licensed and approved by the Monetary Authority of Singapore and the High Court.

AXA Insurance Singapore transferred its business to AXA Life Insurance Singapore Private Limited from Jan 1, 2017, with the single entity being granted a composite insurance license which will provide customers with greater convenience to access a full range of integrated general and life insurance solutions.