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Axa

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For other uses, see Axa (disambiguation).
Not to be confused with Sun Life Financial.
AXA SA
Company typePublic (Euronext: CS, NYSE: AXA)
IndustryFinancial services
Founded1985
HeadquartersParis, France
Key people
Henri de Castries, Chairman of the Management Board
ProductsLife insurance
Health insurance
Investment management
RevenueIncrease€71.7 billion (2005)
7,604,000,000 Euro (2023) Edit this on Wikidata
7,189,000,000 Euro (2023) Edit this on Wikidata
Number of employees
189,927 (31 December 2004)
Websitewww.axa.com

AXA (Euronext: CS, NYSE: AXA) is a French insurance company and the world's second largest insurance company with its 189 000 employees and 122 billions dollars of revenues in 2004. AXA ranks 15th based on revenues as the largest company in the world on the 2006 Fortune Global 500 list.[1] AXA is engaged in life, health and other forms of insurance, as well as investment management. The Company operates primarily in Western Europe, North America and the Asia Pacific region and, to a lesser extent, in other regions, including in particular the Middle East. AXA has five operating business segments: Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services.

Despite always being written in upper case, "AXA" is not an acronym, but was chosen because its name can be pronounced easily by people who speak any language. Originally named Ancienne Mutuelle, the firm renamed itself Mutuelles Unies after acquiring another insurer in 1978; the present name dates to 1985.

On 14 June 2006, AXA acquired the leading Swiss insurance company Winterthur Group from Credit Suisse for approximately 9 billion euros.

AXA in the United Kingdom

AXA trades in the United Kingdom as AXA Life, AXA Insurance. AXA Investment Managers and AXA PPP Healthcare. AXA PPP Healthcare was created when AXA bought Guardian Royal Exchange (GRE), though it subsequently sold the other parts of GRE.

AXA runs its investment branch through AXA Investment Managers (IM).

AXA Life

AXA Life was created following the merger between AXA Equity & Law and Sun Life Assurance Society PLC. In 2006 Winterthur Life in the UK was absorbed although AXA continue to use the Winterthur brand for high net worth wealth management business. In January 2007 AXA Life was reorganised into "strategic business units" (SBU's) aimed at competing within their specific markets. [2]

The business units are:- [3]

  • Wealth Management - AXA + Winterthur's Bonds + Individual Pensions
  • Corporate Business - AXA + Winterthur's Group Pensions. AXA intend to create a "Market Leading" group pension proposition using Winterthur's embassy IT platform.
  • Protection - This SBU will aim to market AXA's Protection Account as AXA continues to build on its presence in this area with the intention of becoming a leading protection provider.
  • Traditional Business - Concentrating on policies which are still in force but no longer actively marketed.
  • Wrap - Aiming to create an IT platform advisers can use to transact Business
  • Advisory Services - This SBU is solely comprised of Thinc Group at present. Originally it was intended that AXA's tied distribution arm would also report into this SBU until it was recently incorporated into Thinc Group.

AXA in the United States

The United States arm of AXA is AXA Financial. AXA Financial consists of many subsidiaries; AXA Advisors, LLC, AXA Network, AXA Equitable Life Insurance, Mutual of New York (MONY), US Financial Life, and AllianceBernstein.

On December 15 of 2006, AXA Advisors, LLC entered into agreements with LPL (Linsco Private Ledger), the country's largest independent broker-dealer. LPL agreed to provide brokerage, clearing and custody services on a fully-disclosed basis. The terms of the agreements are five years, subject to additional 24-month extensions. Services are expected to begin in August 2007.

AXA in Asia Pacific

AXA Life Insurance operates in the Asia Pacific region as AXA Asia Pacific Holdings Ltd. (AXA APH) which is the former National Mutual Life Association of Australasia, and is listed on the Australian Stock Exchange. The head office of AXA APH is located in Melbourne, Australia, and there is a major regional office in Hong Kong. As well as a strong presence in Australia, Hong Kong and New Zealand, AXA is expanding its operations in Singapore, China, India, Malaysia, the Philippines and Indonesia.

AXA General Insurance operates in the Asia Pacific region as AXA Asia P&C. The head-office of AXA Asia P&C is located in Singapore.

AXA has entered into India through Bharti Enterprises as JV Bharti AXA Life Insurance Company Ltd in 2006.

See also

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