The policy will allow employees to take a minimum of 16 weeks and 4 weeks fully paid maternity and paternity leave, respectively.
This new policy will apply in all Axa group entities from 1 January 2017.
Where local laws or current benefits extend beyond the new policy, the greater benefit will continue to apply, confirmed the firm.
In the UK, the policy increases the current paid leave entitlement by one week for primary parents, defined as the parent that will take primary responsibility for welcoming a child into the family, and by three weeks for co-parents.
The organisation said it is implementing the policy to ensure it provides a diverse and inclusive working environment for its employees, with the aim of being a preferred employer in its sector.
Thomas Buberl, chief executive officer of Axa, said: “This global policy gives all AXA employees the same rights and opportunities when expanding their family. I am convinced that a good balance between professional and private life is absolutely necessary to the performance and professional fulfillment of our employees.
In order to help its employees balance the demands of their professional and private lives. AXA will offer flexible working options to each parent as well as dedicated HR and management support before, during and after the period of parental leave, added Buberl.
