Target Market Statement for AXA XL Insurance Products

This document is a target market statement for AXA XL Insurance products, detailing the identified target market and expected distribution strategy for each insurance product. It outlines the main features associated with the Single Peril insurance product, which includes flood and earthquake coverage. The document specifies the intended audience, which includes consumers and commercial customers who have gaps in their existing primary physical damage property insurance policies. It also clarifies that the product is not suitable for those with existing full cover property insurance policies. Additionally, the statement addresses customer vulnerabilities, particularly in the context of rising inflation and interest rates, and emphasizes the importance of ensuring fair value for customers. The distribution methods and governance processes for product sales are also discussed, ensuring compliance with regulatory requirements. The document serves as an indicative summary and advises referring to separate policy documentation for complete coverage details.