With Profit Bonuses Cut By AXA 01/03/2005

AXA has today announced that it is applying cuts of between 0.2% - 0.75% to the bonuses of around 500,000 of its customers. The cuts effect policyholders with 25 year with profit endowments maturing in 2005.

Customers who have paid £50 per month into a 25 year term endowment will receive a final payment of £42,827 compared to a payment of £49,810 had their policy matured in 2004, down around 14%.