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Biography

AXA S.A. is a France|French global insurance company|insurance group headquartered in the 8th arrondissement of Paris|8th arrondissement of Paris . AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life insurance|life , health insurance|health and other forms of insurance , as well as investment management. The group operates primarily in Western Europe , North America , the Asia Pacific region, and the Middle East .

The AXA Group encompasses five operating business segments: Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services. It ranks as the 9th largest company in the world (based on revenue) on the 2010 Fortune Global 500 list.

History

The company was originally founded in 1816 as Mutuelle de L'assurance contre L'incendie (the Ancienne Mutuelle). It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies. It went on to buy the Drouot Group in 1982, at which time it adopted the AXA name. The takeover of The Equitable , a well-known United States|American insurer, came in 1991. It bought Union des Assurances De Paris (UAP), France 's largest insurer, in 1996 becoming AXA-UAP for a while before reverting to the name AXA in 1999. International Herald Tribune, 13 November 1996 Then in February 1999 AXA acquired Guardian Royal Exchange Assurance|Guardian Royal Exchange . New York Times, 2 February 1999 In May 2000 AXA acquired all shares it did not already own in Sun Life & Provincial Holdings . Independent, 3 May 2000 On 14 June 2006 AXA acquired the leading Swiss insurance company Winterthur Group from Credit Suisse for approximately €9 billion. BBC News, 14 June 2006

The AXA name

Despite being written in upper case, "AXA" is not an acronym , but . After acquiring the Drouot Group in 1982, the company hired an outside consultant to conduct a computer-aided search for a new name. The selection criteria consisted of a short and snappy name to convey vitality, a name that begins with the letter A so that it would appear near the top of all lists, and something that could be pronounced easily in every language, consistent with the group's desire for an international presence. In 1985, Chairman and CEO Claude Bébéar chose the name AXA.

Operations

In the United Kingdom

AXA trades in the United Kingdom as AXA Sun Life, AXA Insurance, AXA Investment Managers and AXA PPP Healthcare. AXA PPP Healthcare was created when AXA bought Guardian Royal Exchange Assurance|Guardian Royal Exchange (GRE), though it subsequently sold the other parts of GRE to Aegon . The company also owns the online insurer Swiftcover , distribution business Bluefin and fund manager Architas. In January 2007 AXA was reorganised into "strategic business units" (SBU's) aimed at competing within their specific markets.

AXA run its investment branch through AXA Investment Managers (IM) which is headed by John Cook. The UK's largest insurer is Aviva .

AXA Sun Life

AXA Sun 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.
The business units are:

AXA Wealth – This includes AXA + Winterthur's Bonds + Individual Pensions, AXA Distribution Services who offer the Elevate wrap platform and Architas.

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 business aims 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.

Sunlife Direct – This business focues solely on selling protection & savings products directly to those in the UK.

Bancassurance – This business is responsible for an advisory and sales force that sell AXAs products and propositions.

AXA sold AXA Sun Life Holdings Ltd to Resolution Limited in autumn 2010. http://www.fsa.gov.uk/pubs/final/resolution_axa.pdf

On the Isle of Man

AXA Isle of Man Limited was originally created as a subsidiary of AXA Sun Life in the United Kingdom, but since the Isle of Man is not a part of the United Kingdom it is regulated instead by the laws of the Isle of Man. AXA Isle of Man Limited advertises itself as a repository for citizens of the United Kingdom and the Channel Islands who seek to shelter their assets from high taxation.

While the company trades upon the AXA logo, name and group advertising which promotes the total wealth of the group, the assets of the Isle of Man company are limited to those of the Isle of Man company itself.

AXA Schengen

AXA Schengen Travel Insurance provides insurance to travelers who need a visa to enter the Schengen Area .

In Canada

AXA Canada offers insurance services through a network of affiliates operating in the different Canadian regions such as Quebec , Ontario , Western Canada and Atlantic Canada . In 2009, the company had a total of approximately 2,300 employees and 4000 brokers and advisors. The head office is in Montreal , Quebec. In 2011, AXA's Canadian operations were acquired by Intact Financial Corp. for C$2.6 billion.

In the United States

The American arm of AXA is AXA Equitable. AXA Equitable 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 Financial|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.

In Mexico

In July 2008, AXA acquired ING Insurance Mexico, they are offering essentially the same services that ING offered.
The Chairman in Mexico is Xavier de Bellefon.

In Asia Pacific

AXA Life Insurance operated in the Asia Pacific region as 'AXA Asia Pacific Holdings Ltd. (AXA APH) which is the former National Mutual Life Association of Australasia founded by actuary and was listed on the Australian Securities Exchange . The head office of AXA APH was located in Melbourne , Australia, and there was a major regional office in Hong Kong. AMP Limited|AMP acquired AXA Asia Pacific in 2011; it retained AXA APH's Australia and New Zealand operations, and sold the Asia operations to AXA.

AXA Asia - Based in Hong Kong , the AXA Asia Regional Office is responsible for supporting the Group's existing operations in Hong Kong, China and South East Asia, propelling its perpetual growth, and looking for new markets and business development opportunities for AXA in Asia. http://www.axa.com.hk/html/AXA_PRO/eng/misc/axa-asia.html

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 the Indian market through Bharti Enterprises as a joint venture . AXA has three ventures in India, Bharti AXA Life Insurance Company Ltd, Bharti AXA General Insurance Co. Ltd. and Bharti AXA investment Managers, and is also present in fusion with OYAK, as AXA OYAK, in the Turkish market since 1999.

The Metropolitan Bank and Trust Company of the Philippines subsequently entered into joint ventures with corporation the National Mutual Holdings Ltd. of Australia to create Philippine AXA Life Insurance Corporation.

Capital Ownership

United States of America|U.S.A. 18.8%

France 16.5%

United Kingdom 11.5%

AXA Employees 6.5%

BNP Paribas 5.4%

Edward L. Skyward 5.1%

Sumitomo Mitsui 4.0%

Qatar Investment Authority 3.8%

Capital Ownership at December 31, 2010""

Head office

The head office of AXA is located in the 8th arrondissement of Paris|8th arrondissement of Paris ."." AXA. Retrieved on 7 July 2010. AXA, which already owned 23 Avenue Matignon, acquired the former Hotel de La Vaupalière, an 18th century building, in the late 1990s. Architect Ricardo Bofill integrated the facade of the hotel with a modern glass building that covers the courtyard that the hotel also occupies. The complex serves as AXA's head office."." Le Journal du Net . Retrieved on 7 July 2010.

Philanthropic initiatives

Besides its artistic and social philanthropic initiatives (), AXA created the AXA Research Fund in 2008. Endowed with € 100 millions, it provides support for research focused on understanding and preventing the risks threatening the environment, human life and our societies.

256 basic-research projects were funded within three years, including 230 young researchers, PhDs or in postdoctoral year, working in laboratories all around the world. In addition to this support, AXA gathers every year the young fellows to meet a world-class researcher, exchange best practices and network, above any education or discipline.

The Fund has also awarded 11 endowments for several million euros supporting research institutions of excellence ( HEC Paris , National University of Singapore|NUS , University of bristol|University of Bristol , London School of Economics|LSE , Met Office|MetOffice , Institut national de la santé et de la recherche médicale|INSERM , Institut des Hautes Études Scientifiques|IHES ...). These Research and Education Chairs intend to attract the best scientists. For example, , held by Abdul Barakat, aims to promote research on cardiovascular diseases, but also to train and develop young researchers through extended educational programs.

The 256 research projects funded as of today are implemented in 22 countries with researchers of 42 different nationalities. The Scientific Board is chaired by Ezra Suleiman and composed of eminent members of the academic world and AXA Group representatives.

Website and list of supported projects: .

See also: Science ; Fundamental science ; Funding of science ; Pascale Cossart|Pascale Cossart, member of the Scientific Board ; José Scheinkman| José Scheinkman, member of the Scientific Board ; James Vaupel| James Vaupel, member of the Scientific Board ; Brian Hoskins| Brian Hoskins, member of the Scientific Board ;

Copyright Citations

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