Insurance: Axa to pay heirs of victims of the 1915 Turkish massacre of Armenians

Armenialiberty.org reports that the heirs of victims of the 1915 Turkish massacre of Armenians have agreed to settle a class action lawsuit against French insurer Axa for $17 million.

The lawsuit, filed in a California court, accused Axa of failing to pay death benefits for the insurance policies purchased by Armenians living in the Ottoman Empire prior to the genocide in which up to 1.5 million people were killed.

Under the terms of the deal, Axa will donate at least $3 million to various French-based Armenian charities and another $11 million towards a fund designed to pay out policyholders of Axa units that did business in the now defunct Turkish-run Ottoman Empire.