Target Market Statement for AXA XL Insurance Products

This document is a target market statement for AXA XL Insurance Company, detailing the identified target market and expected distribution strategy for its insurance products. It provides an overview of the main features and optional covers associated with each product, clarifying the intended audience and those for whom the products are not suitable. Specifically, it addresses the Animal and Pet Business Personal Accident Insurance, designed for individuals or entities operating within the pet business industry. The document outlines customer vulnerabilities, such as financial strain and ongoing medical conditions, which may affect eligibility for the product. It emphasizes the importance of ensuring fair value for customers, detailing how the product should be distributed and sold, including the necessity for distributors to avoid sales outside the intended target market. Additionally, it describes the governance process for product oversight and the annual review mechanism to ensure continued suitability for the target market.