Media speculation suggests that Axa plans to invest €10 million in establishing a new financial services business in the Republic, which will sell investment products.
Axa is currently the third largest insurer in Ireland (focused on motor and home insurance), after entering the market ten years ago.
Axa believes that Irish investors have been overexposed to the Irish market in recent years and intends offering them an opportunity to diversify from this.
The company has come up with a mix of products focused on the US, European, Japanese and emerging markets, as well as bonds and other instruments.
The company has tested the funds that will be offered to Irish investors and has based its choice of investments on those it believes are most likely to offer sustained growth.