French insurance firm AXA has paid compensation to descendants of Armenian Genocide victims based on life insurance policies taken at the time. Thousands of families applied for compensation through policies that their ancestors bought under the Ottoman Empire from companies that were taken over by the French firm, AXA.
Hilda Tchoboian, the head of an Armenian association in the French city of Lyon, said Axa had agreed to pay nearly 1,000 Armenian, French and American families, and had started sending cheques of about $10,000 each, Ottawa Citizen reported.
