AXA France’s settlement offer to restaurants – Group impact

In the context of continuing judicial uncertainty, AXA France announced today the launch of a settlement offer to 15,000 restaurant owners who hold non-damage business interruption policies.

AXA estimates the cost of these settlements to be ca. Euro 0.3 billion, gross of tax and before reinsurance. The cost of the settlements, net of tax and after reinsurance, is expected to be offset by favorable developments in 2021 related to Covid-19, in France and Europe.

For additional details please refer to the press release issued today by AXA France.