Merger between Oyak and Axa had end in 2008. After this date, Turkish military and French company never get along well with each other. National Defence Ministry banned Axa to participate military biddings.

It is learned that French company is added to the banned companies list of National Defence Ministry of Turkey. The ban will be on act till January 2010.

The merger between Oyak and Axa holding started in 1994 when Axa bought 11 percent of Oyak stocks. Two company established the joint insurance company in 1995 and AxaOyak holding was founded in 1999. When Axa bought Oyak stocks in 1998 for 500 million dollars, the merger between companies came to an end.

National Defence Ministry banned Axa to participate Turkish Military biddings for one year. Ban started on 14 January 2009 and will be valid till 14 January 2010.

AXA had accepted to pay compensation in 2005 to several Armenian who claim for compensation due to allegations of so called Armenian genocide. The reason for the compensation arised from the agreement signed between Axa and UAP. Reaching an agreement with UAP in 1996, Axa had bought life assurance policies belonging to the company. As a part of the agreement, Axa would be responsible for whole commitments of UAP. Ten years after that event, lawyers knocked the door of Axa and told them UAP, a very old insurance company made life insurance policies to Ottoman Armenians. Lawyers claimed that Ottoman Armenians lost their lives in 1995 due to so called Armenian genocide and Axa has to pay compensation due to the life insurance policies of UAP.

Parties had an agreement in 2005 and Axa accepted to pay compensation to the heirs of Armenians who allegedly lost their lives in 1915.