...[W]e have duly taken note of your concern with regards to our investments in three Israeli banks. We were contacted in the past by some NGOs on the same topic, and had therefore reviewed it carefully, as we do when we receive questions about our investments. We would like to reassure you that AXA is not present and does not do business in the settlements, which are subject to an international United Nations resolution. The banks you are mentioning, which are under no legal restriction, were carefully examined by the teams involved in the decisions relative to our responsible investment policy. They concluded that these companies did not fall within the exclusion framework of our responsible investment policy, one of the most advanced and transparent in the financial sector. We hope to have reassured you on our investment policy.

Yours Faithfully,

AXA Group