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April 18, 2019

French insurer AXA offers €10m to reconstruct fire ravaged Notre-Dame

French insurance giant AXA has announced that the company will donate €10m to support the restoration of Notre-Dame de Paris, which sustained substantial damages during a fire accident on Monday 16 April.

Roof and spire of the medieval cathedral located in the heart of Paris was gutted in fire by the time fire-fighters extinguished the blaze.

However, the fire-fighters saved two large stone bell towers as well as a number of the precious items inside the cathedral.

AXA in a statement said: “All employees and partners of the AXA Group in France and around the world express their sadness and solidarity in the wake of the fire that struck Notre-Dame de Paris.

“AXA, which has a longstanding tradition of philanthropic support for the safeguarding of France’s cultural heritage, will contribute to the rebuilding effort of Notre-Dame de Paris, by mobilising as of now €10m for the fundraising campaign launched by the President of the French Republic.

Besides AXA, many other firms have also pledged to support the rebuild of the cathedral.

French multinational investment bank Societe Generale has agreed to provide €10m for the repairing of the cathedral.  French banking group Natixis and Crédit Agricole have also pledged €10m and €5m, respectively.

François-Henri Pinault, chairman and CEO of the Kering Group that owns the Gucci and Yves Saint Laurent fashion brands, pledged €100m, AFP news agency reported.

Bernard Arnault’s family and their company LVMH have pledged another €200m towards rebuilding Notre-Dame.

Similarly, cosmetics firm L’Oreal and its founder Bettencourt family pledged €200m to the reconstruction effort. French oil major Total has also pledged €100m.

Meanwhile, French President Emmanuel Macron said the cathedral would be rebuilt more beautifully within next five years.

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