GBGI : Global Benefits Group and AXA announce global strategic partnership to foster GBG’s growth on the IPMI market

FOR IMMEDIATE RELEASE

Global Benefits Group and AXA announce global strategic partnership to foster GBG's growth on the IPMI market

The partnership was announced by Mr. Bob Dubrish, CEO of Global Benefits Group, and Mr. Mattieu Rouot, Senior Vice President - Head of International Employee Benefits, AXA

Under the agreement, GBG and AXA will collaborate in three key areas:

• Reinsurance: AXA will serve as GBG's principal reinsurance partner, taking a quota share participation in all lines of GBG's business.

• Client Referrals: Where appropriate, AXA will utilize GBG's specialized capabilities to help provide international solutions to AXA's clients, especially in the small to mid-size group business in which GBG specializes.

• Access to new markets: Through its network of subsidiaries and affiliates, whenever relevant, AXA will provide GBG with access to a wide range of new jurisdictions in which it does not currently operate.

"The AXA Group is the perfect partner for the next stage of GBG's rapid growth cycle," Mr. Dubrish said. "We look forward to the security AXA brings to our financial strength as a reinsurance partner, in addition to the new doors that will be opened through our collaboration."

"Launching new partnerships with the most dynamic IPMI actors is part of AXA strategy to seize new opportunities on the IPMI Market. This collaboration with GBG will help us further accelerate our IPMI development, notably in LATAM and Africa where AXA already has an important footprint," Mr. Rouot said.

GBG, founded in 1981, provides health, life, disability, travel and specialty insurance products to group and individual clients. The company's target market segments are expatriates, third-country nationals and high- net worth individuals.

AXA, with origins dating to 1859, is a global leader in insurance and asset management, with 166,000 employees and distributors based in 64 countries serving 103 million customers. AXA surpassed 100 billion (Euros) for the first time in 2016.

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ABOUT GBG

GBG is a leading integrated provider of international benefits insurance, operating globally across more than 120 jurisdictions. GBG distributes and underwrites health, life and disability, and travel insurance, with a client base that spans multinational corporations, expatriates, local high net-worth individuals, international schools, non-profit organizations and international students. GBG is a fully integrated insurance group providing services from policy sales to claims administration and servicing, and is committed to delivering high levels of customer service. Parent company GBGI Limited (LSE: GBGI) is incorporated in Guernsey and listed on the London Stock Exchange AIM market. GBG Insurance Limited is rated B++ (Good) by A.M. Best.

GBG has regional offices in Southern California (Administrative Office); Belgrade, Serbia; Hyderabad, India; Jakarta, Indonesia; Johannesburg, South Africa; London, England; Manila, Philippines; Miami, Florida, USA; Shanghai, China; Toronto, Ontario, Canada; and Vienna, Austria. In addition, GBG has local field representation in Ethiopia, South Korea, Denmark, Singapore, Turkey and the United Arab Emirates.

Under its TieCare International brand, GBG is a leading supplier of employee benefits to American and international schools around the world.

ABOUT AXA

AXA Group is one of the largest insurance companies in the world, with a head office located in Paris.

Present in 64 countries, AXA's 166,000 employees and exclusive distributors provide their expertise in support of 103 million customers through four core business activities: Property & Casualty Insurance; Life & Savings; Health Insurance; and Asset Management. In a fast-evolving world, AXA anticipates change to offer services and solutions tailored to the current and future needs of its customers.

AXA joins the top 3 global financial services brands and confirms its ranking in the top 50 global brands. The Best Global Brands ranking today confirms the AXA brand's strong ongoing reputation and value:

46th best global brand, up 2 spots in a year, 1st insurance brand worldwide for the 8th consecutive year and the 3rd best brand across all financial services, with a brand value that has gone up by 14% this year. It represents a 49% increase since 2013. It is now valued at USD 10.579 billion.

The AXA Group is a dynamic company pursuing an ambitious goal - with its responsible conduct it wishes to gain the trust and become the Insurer of first choice for all stakeholder groups, from costumers to employees, from environment, society and its shareholders to its suppliers.

FOR ADDITIONAL INFORMATION

Mr. Mark Tomaszewski Ms. Miranda Milke

Global Benefits Group Global Benefits Group

Chief Marketing Officer Marketing & Communications Manager

MarkT@gbg.comMiranda.Milke@gbg.com

+1.949.421.3337 +1.949.421.3339

On the web:www.gbg.com