Axa fined nearly $4 million for risk management, corporate governance failures

The Central Bank of Ireland has fined French insurer Axa SA’s subsidiary Axa Life Europe DAC €3.6 million ($3.8 million) for risk management and corporate governance failures, Reuters reported. The insurer is accused of failing to identify, manage, monitor and report risks emerging from 30,000 policies issued in Germany as part of the TwinStar brand.