Axa Equitable Life Insurance Co. of New York has opened a Farmington, Conn., headquarters office for its wholesale life insurance distribution channel.
One hundred fifty employees who had worked in Connecticut in Simsbury and Hartford have moved to the 42,000-square-foot Farmington office, which opened Tuesday.
Axa Equitable, a subsidiary of Axa Group Inc. of Paris, has signed a 10-year lease on the space.
Axa Equitable entered the life insurance wholesaling business by acquiring Mony Life Insurance Co. in July 2004.
Since that time its life insurance wholesaling work force has increased fivefold, to 150. The company said that its wholesale life sales rose 70% last year.
Axa Equitable's proprietary life insurance products are sold wholesale primarily to brokerage general agents, broker-dealers, and independent financial planner producer groups, according to the company.
