AXA XL Livestock Insurance Target Market Statement

This document is a Target Market Statement for AXA XL's Livestock insurance product, aimed at commercial UK livestock producers. It outlines the product's features, intended audience, and distribution strategy. The statement specifies that the product is designed for business customers, including micro enterprises and larger commercial operations, and is not suitable for individual consumers, such as owners of small flocks. It details the coverage provided, including protection against the death of livestock due to various perils and optional covers available for additional risks. The document also emphasizes the importance of ensuring fair value for customers, advising distributors to avoid duplicate coverage and ensure that commissions and fees are proportionate to the services provided. Furthermore, it describes the governance process in place to assess product value and suitability for the target market, including annual reviews based on performance metrics. This ensures the product remains aligned with customer needs and regulatory requirements.