AXA France and Macif launch a microinsurance offer in partnership with ADIE.

On May 9, 2007, AXA France and Macif announced the joint launch of a microinsurance offer in partnership with the French organization to aid microenterprise development, ADIE. The two insurers shared a desire to contribute to ADIE's work promoting social inclusion and solidarity. Together, they designed an insurance solution tailored to the needs of microentrepreneurs supported by the organization.

A survey* performed by ADIE with the assistance of the ESSEC business school in France threw light on the needs of microentrepreneurs, the long-term unemployed and recipients of the French guaranteed minimum income benefit (RMI), who are often in at-risk situations:

• 20% are unable to access insurance cover due to insufficient funds
• 40% have not thought about insurance or think insurance is unnecessary
• 40% were unable to describe their insurance coverage

Microentrepreneurs are, however, particularly vulnerable from a financial standpoint and are in need of comprehensive insurance coverage to avoid jeopardizing their business.

These survey results naturally encouraged Macif and AXA France to actively partner with ADIE to create an insurance solution tailored to the needs of microentrepreneurs supported by the organization.

Together, the two insurers developed a co-branded offer (comprehensive business, comprehensive homeowner's, auto and building insurance). This simple, comprehensible solution offers complete coverage and features adapted to the specific needs of microenterprises. The affordable rates are based on the type of business activity.

Consulting services complete the offer and ensure the best possible match between the policy and business activity: Personalized diagnosis of risks , clear, straightforward description of the proposed coverage

The microinsurance solution is available to microentrepreneurs for three years. After this period, Macif and AXA France will propose policies from their traditional insurance offer to maintain the business's desired level of coverage.

Microinsurance will be distributed directly. A campaign to train ADIE's 65 advisors in insurance issues and the features of this offer is underway on May 10, 2007.

The microinsurance product will be offered to all entrepreneurs supported by ADIE, in three pilot regions to start with, and then potentially nationwide as of 2008. According to ADIE, a very large majority of entrepreneurs who receive microloans could be interested in the Macif - AXA France microinsurance offer.

* Survey performed in 2006 by ADIE and the ESSEC Social Entrepreneur Chair, involving 600 entrepreneurs who have received microloans.