October 01, 2014 10:40 ET

AXA ART Canadian Branch: Fully Established and Operational

TORONTO, ONTARIO--(Marketwired - Oct. 1, 2014) - AXA ART announces it has successfully received licensing to operate in all provinces and territories across Canada.

In 2013 AXA ART's application to establish a Canadian Branch received federal regulatory approval, the Order to Insure in Canada Risks, from the Office of the Superintendent of Financial Institutions Canada. As it awaited the regulatory decision, AXA ART demonstrated dedication to its existing brokers and Insureds by continuing to provide service through the company's business continuation agreement in place with Intact Financial Corporation.

Effective October 1, 2014 all new and renewal policies across Canada will be insured by the Canadian Branch of AXA Art Insurance Corporation headquartered in Toronto, Ontario. Existing business with Intact Insurance Company will continue until all existing policies are renewed with AXA ART's Canadian Branch.

"We are thrilled to receive the required licenses to fully operate in Canada," says Christiane Fischer, President and CEO of AXA Art Americas Corporation. "During the transitional period, Intact Financial Corporation was resolute in their support and we deeply appreciate it. We look forward to continue delivering on our promise to the arts and insurance communities, to be close, available and responsive as we work to protect customers' collections across Canada".

AXA ART offers bespoke fine art insurance solutions for collectors with all types and sizes of collections. Additionally, the fine art insurance specialist concentrates on risk prevention methods through a variety of approaches such as establishing best practices for art storage facilities and art shippers and offering security checks and facility surveys to museums.

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