Project number:


Business sector:

Insurance, Pension, Mutual Funds

Notice type:


Environmental category:


Target board date:

25 Jul 1995



PSD disclosed:

25 Jul 1995

Project Description

The MPF sub-projects will act as a catalyst for new domestic and foreign entrants in the insurance and pensions sectors and will strengthen the competition and innovation in the insurance and pension industries in the region

Transition Impact

Through the AXA Winterthur MPF the Bank seeks to, inter alia:

  • transfer foreign industry know-how to the region
  • develop long term savings for investment in the local capital markets
  • provide insurance product to individuals and SMEs


The Client

AXA SA is a global life, non-life and financial services group which has a strong presence in developed and emerging markets. It purchased 100% of Winterthur AG in December 2006.

EBRD Finance

The project consists of an amount of CHF 250 million under the MPF to be invested in the equity capital of AXA insurance and pension fund subsidiaries in EBRD countries of operation.

Project Cost

CHF 250 million.

Environmental Impact

The MPF sub-projects in the region follow the Sponsor’s stringent environmental guidelines and therefore raise the awareness of local clients for environmental issues.

Technical Cooperation


Company Contact

Adam Harper, Senior Banker


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer ( is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.