AXA-Minmetals Assurance views the ongoing global financial crisis as a "once in a lifetime" golden opportunity to expand its wealth management activities in China, especially as none of its businesses have been hit by the turmoil, the company said yesterday in Shanghai.

The financial turbulence creates a "once in a lifetime" opportunity for the company to get closer to clients to pitch its financial planning advisory services, said Jamie McCarry, president and chief executive officer of the joint venture insurer, yesterday.

One of AXA-Minmetals's parents, France-based AXA, is very solid and has no strategic or financial issues related to the ongoing financial fallout, according to McCarry.

He said AXA-Minmetals is poised to better leverage AXA's global practices in strong financial protection and wealth management in the China market.

Through several surveys, the joint venture insurer found that China's affluent, senior management and entrepreneurs are the group which advocates strong financial planning. This is the group that creates opportunities for professional wealth management expertise to tap into.

(Shanghai Daily October 14, 2008)