Armenia heirs win $17m Axa payout

13 October 2005
BBC

The descendants of Armenians who died in mass killings by Ottoman Turks have agreed to settle a class-action lawsuit against French insurance giant Axa.
[...]
Under the terms of the settlement, announced in Los Angeles, Axa will donate at least $3m to selected French-based Armenian charities.

Another $11m has been earmarked for the heirs of policyholders with subsidiaries of Axa that operated in the Ottoman Turkish Empire before 1915.
[...]
The Axa case was the second of its kind to be brought in US courts. Earlier, New York Life Insurance Company agreed to pay $20m (£11.4m) to descendants of Armenian policyholders who died in 1915.

Lawyer Mark Geragos said the settlements were "important building blocks... [towards]our ultimate goal, which is for Turkey and the US to officially acknowledge the genocide".
[...]

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