AXA SA history, profile and history video
AXA SA operates as a holding company, which provides life insurance, property and casualty insurance and asset management services. It operates through five segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, Banking and Holding. The Life & Savings segment offers products, including individual and group savings retirement products, life and health products. It comprises of traditional term and whole Life insurance, immediate annuities and investment products, including endowments and savings-related products. The Property & Casualty segment offer products, including motor, household, property and general liability insurance for both personal and commercial customers. The International Insurance segment which include insurance products that relate to AXA Corporate Solutions Assurance, which provide coverage to large national and international corporations. The Asset Management segment include diversified asset management, including investment fund management and services offered by AXA Investment Managers and AllianceBernstein entities, which provides to institutional investors and individuals, including AXA’s insurance companies. The Banking segment involves in the banking activities, which include retail banking, mortgages loans and savings. The Holding segment engages in all non-operational activities. The company was founded in 1985 and is headquartered in Paris, France.“
“AXA Group History
2014 – AXA renews its support of CARE
AXA renews its partnership, begun in 2011, with the NGO CARE to help vulnerable populations better protect themselves against environmental risks, pledging an additional 2.3 million of financial support over three years to continue existing projects and expand the program to include new countries in Central and South America.
2013 – New support for international research
AXA allocates a second €100 million to the AXA Research Fund.Since its establishment in 2007, the Fund has financed 367 academic research projects in 27 countries across Europe, Asia and the Americas.
2013 – AXA buys a stake in Tian Ping in China
AXA acquires 50% of Tian Ping, a Chinese P&C insurer with strong direct distribution capabilities, becoming the largest international insurer operating in China.
2013 – AXA Lab connects AXA to Silicon Valley
AXA creates AXA Lab in San Francisco, reinforcing its innovation capabilities and digital culture.With this pioneering move in the insurance world, AXA advances toward its goal to become the leading digital and multi-access insurer.
2013 – AXA gains a foothold in Latin America
AXA acquires 51% of the insurance operations of Colpatria Seguros in Colombia*, becoming the country’s fourth largest insurer and number two player in the P&C market.
2013 – AXA is the NO. 1 insurance brand
For the fifth year running, AXA is confirmed by Interbrand as the leading global insurance brand.All industries combined, AXA is ranked 59th of the top global brands.
2012 – AXA partners with HSBC
AXA acquires the HSBC’s P&C businesses in Hong Kong, Singapore and Mexico.The deal includes an exclusive 10-year P&C bancassurance agreement with HSBC in India, Indonesia and China in addition to these countries.AXA becomes the leading P&C insurer in Hong Kong.
2012 – AXA signs Sustainable Insurance and Responsible Investment Principles
AXA signs the United Nations-supported Principles for Responsible Insurance and Principles for Responsible Investment. In so doing, the Group commits to incorporating ESG criteria into its insurance activities and promote responsible investment.
2012 – New edge in chinese life insurance market
Official launch in China of ICBC-AXA Life, the life insurance joint-venture formed with the world’s largest bank, ICBC (Industrial and Commercial Bank of China Co. Ltd) and its long-standing partner, Minmetals.
2011 – European agreement on anticipating changes
A framework agreement on anticipating changes in AXA Group entities located in the European Union has been signed with the management and representative trade unions. This agreement sets out a social dialogue approach whose objective is to better anticipate changes within the sector in order to adapt the employees’ skills to future needs.
2011 – AXA, world’s top insurance brand
For the third year in a row, AXA is ranked as the world’s top global insurance brand by Interbrand. Overall, AXA is also the 4th best brand in France.
2011 – Ambition AXA strategic plan is launched
With its strategic plan running to 2015, AXA reiterates its goal of becoming the preferred company by becoming genuinely customer centric and building a strong corporate culture based on trust and success. Ambition AXA is structured around three priorities: selectivity, acceleration and efficiency.
2011 – AXA joins forces with CARE
India, Thailand, Vietnam and the Philippines: AXA and the international NGO CARE have joined forces to assist populations at risk improve their efforts to be prepared to face weather-related risks. This three-year partnership is part of AXA’s global philanthropic program aimed at promoting risk prevention and education.
2011 – Global Forum for Longevity
AXA initiated the Global Forum for Longevity meetings. Multidisciplinary, trans-generational and international in scope, the Forum is a place for researchers, experts and decision makers to exchange knowledge. It was created to achieve greater understanding of the mechanisms and challenges of increasing life expectancy for our societies.
2010 – A new dimension in China
By adding ICBC (Industrial and Commercial Bank of China Co. Ltd) to its joint venture with AXA-Minmetals Assurance (AXA MM), the Group has embarked on a cooperative enterprise aimed at increasing its presence in the Chinese market significantly. The new company has adopted the name ICBC-AXA Life Insurance Co.
2010 – Change in the structure of governance
On April 29, 2010, the shareholders of AXA ratified the decision to change AXA’s form of governance by forming a board of directors. Henri de Castries was appointed Chairman and CEO. The board of directors was composed of 15 members, 11 of whom are independent.
2010 – AXA ranks among top 5 in Malaysia
AXA Affin General Insurance, a joint venture of AXA SA and Affin Holdings Berhad, announced the acquisition of BH Insurance Berhad, strengthening AXA’s position in the Malaysian market.
2010 – AXA delists from NYSE
Last year, AXA decided to delist from the New York Stock Exchange, since 95% of all transactions involving its stock occur on the Euronext Paris exchange.
2009 – Anchors east
The Group announced the acquisition of the Rumanian Omniasig Life AXA, reinforcing its position in Hungary, Poland and the Czech Republic via the buyout of minority interests held by EBRD.
2008 – New supervisory board chairman
Jacques de Chateauvieux succeeded Claude Bébéar as Chairman of the Supervisory Board. Mr. Bébéar became Honorary Chairman.
2008 – Departure of Claude Bébéar
After having served the AXA Group for 50 years, and 8 years after having stepped down as CEO of the AXA Group, Claude Bébéar stepped down as Chairman of the Supervisory Board.
2008 – The Group consolidates its property-casualty business
The Group bought OYAK’s 50% equity stake in AXA OYAK, Turkey’s top property-casualty insurer. AXA also acquired an interest in RESO, Russia’s number two property-casualty insurer.
2008 – AXA in Latin America
AXA bought the third largest insurance company in Mexico, ING Seguros.
2007 – Setting out for emerging markets
AXA entered the South Korean and Ukrainian markets. In South Korea, the acquisition of Kyobo Auto allowed the Group to become the top direct seller of motor insurance. In the Ukraine, AXA gained control of the 6th largest property-casualty insurer.
2007 – New distribution channel in Italy
The Group signed a long-term agreement with the Italian bank Banca Monte Dei Paschi di Siena for the distribution of life & savings and property-casualty insurance.
2006 – AXA becomes number 1 in Switzerland
The acquisition of Winterthur Assurances marked a new step in European development, and in the dynamic markets of Central and Eastern Europe as well as in Asia.
2005 – The Group gains ground in asset management
AXA consolidated its asset management business with the acquisition of Framlington in the UK.
2005 – New markets open
AXA took its first steps in life insurance in India, with Bharti Enterprises Private Ltd, and began direct selling in Portugal.
2005 – New strategic plan is launched
The Ambition 2012 strategic plan was adopted. Its aim was to make AXA the preferred company of its clients, employees and shareholders.
2005 – Employee stock ownership
The AXA-FINAXA merger allowed AXA to simplify its capital ownership structure. AXA then decided to distribute shares to its employees (who now own between 4% and 6% of its equity capital).
2003 – The Group makes strides in the United States and in Asia
AXA announced the acquisition of the US life insurer MONY (Mutual of New York). The Group gained ground in Asia, the Philippines and Thailand, in Indonesia and in China.
2002 – Banking division grows
AXA acquired Banque Direct, a subsidiary of BNP-Paribas, and began to streamline its portfolio via AXA Banque.
2000 – Buyout in the United Kingdom
The Group bought out the remaining minority interests in Sun Life & Provincial Holdings in the United Kingdom.
2000 – North American presence is strengthened
Alliance Capital Management, an asset management subsidiary of the Group, acquired US-based Sanford Bernstein. AXA bought out the remaining minority interests in its US subsidiary AXA Financial.
2000 – Management Board gets a new Chairman
Henri de Castries succeeded Claude Bébéar as Chairman of the AXA Management Board. Mr. Bébéar became Chairman of the Supervisory Board.
1999 – The Group affirms its global reach
National Mutual Life Insurance Company was taken over by the Group, becoming AXA Asia Pacific. The Group bought the UK-based Guardian Royal Exchange, entered the Chinese market (with AXA Minmetals), and also launched operations in Turkey (AXA Oyak), Lebanon (AXA Middle East) and Japan (with Nippon Dantai, which became AXA Nishida).
1997 – Birth of AXA Equitable
The Equitable Life Assurance Company became wholly owned by the AXA Group, and changed its name to AXA Equitable.
1996 – Group develops in Morocco
AXA began operations in Morocco with the acquisition of Assurance Al Amane. In 2000, AXA Assurance Maroc was born.
1996 – AXA and UAP unite in a merger-acquisition
On November 12, AXA bought UAP. The two companies signed their takeover agreement, which gave rise to the biggest corporation in France based on revenues (313 billion French francs) and the world’s largest insurer.
1996 – AXA goes to Wall Street
The AXA share was admitted for trading on the New York Stock Exchange. Each security represented half of one AXA share, stated in dollars and trending in line with the AXA share price adjusted for the dollar/franc exchange rate parity.
1995 – Foray into the Asian market
AXA acquired a stake in National Mutual Life Insurance Company, Australia’s second largest life insurer. In addition to Australia, AXA began doing business in New Zealand and Hong Kong and also started operating as AXA Life in Japan.
1994 – Group asset management develops
The Group took its first steps in the asset management business with the creation of AXA Asset Management Europe, which later became AXA Investment Managers.
1994 – The Group steps up its international development
AXA acquired Boréal Assurances in Canada and Victoire Belgium in Belgium. AXA Asset Management Europe, the Group’s asset management specialist in Europe, was founded.
1991 – Going after America
AXA took advantage of the demutualization of The Equitable Life Assurance Company, one of the top life insurers in the United States, to acquire an equity interest.
1990 – Diversification of businesses in France
Alpha Assurances was formed to sell life insurance and specialize in direct insurance. A year later, the direct marketing business separated from Alpha to form Direct Assurance.
1989 – Growth spurt
AXA took control of the prestigious Compagnie du Midi, making the Group France’s number 2 insurer, just behind UAP.
1988 – Sustained and steady growth
AXA and Compagnie du Midi, the holding company for Assurances du Groupe de Paris (AGP), whose banking division was known as Crédit Parisien, merged their insurance businesses. The Group now had several subsidiaries in Europe. Uni Europe, an insurance brokerage, was created.
1986 – Unprecedented stock market war
At the end of a stock market battle that had France’s financial press holding its breath, AXA gained control of Secours and La Providence. To acquire the latter, Claude Bébéar put 2.2 billion francs on the table.
1985 – AXA is born
Mutuelles Unies/Drouot wanted to make a name for itself internationally. Of all the names put forth, three made the final cut: Argos, AXA and Elan. In July, AXA became the Group’s new corporate name.
1982 – France’s number one private insurer
Mutuelles Unies bought out the Drouot group. Claude Bébéar became chairman and CEO of the newly formed Mutuelles Unies / Drouot group, France’s leading private insurer.
1978 – Birth of Mutuelles Unies
The Group acquired a controlling interest in La Compagnie parisienne de garantie, which was renamed Mutuelle Parisienne de Garantie. The Ancienne Mutuelle group had become Mutuelles Unies.
1977 – Reinsurance, a full-fledged business
Since reinsurance has acquired the status of a separate business from insurance, a reinsurance specialist, Ancienne Mutuelle Réassurance (AMRé) was created. Its role as a trailblazer of international development was confirmed by the policy of establishing offices in the world’s major financial centers.
1975 – An ambitious group
Claude Bébéar became CEO of the 24th ranked Ancienne Mutuelle group.
1958 – Claude Bébéar’s debut
Claude Bébéar began his insurance career with Ancienne Mutuelle, which at the time was France’s 24th largest insurer. He went to work for the Canadian subsidiary, where he developed life insurance products before returning to France to step up the company’s international development.
1955 – The roots of international growth
Ancienne Mutuelle turned toward the international market with the acquisition of Provinces-Unies, a company based in Quebec.
1946 – Birth of the Ancienne Mutuelle Group
Three previously independent business lines – Fire, Life and Accident – merged in a new structure, the Ancienne Mutuelle Group, out of which the future AXA Group later emerged.
1817 – The origins of AXA
The AXA Group was created through the merger of several insurance companies, the oldest of which – La Compagnie d’Assurance Mutuelle contre l’Incendie dans les départements de la Seine Inférieure et de l’Eure – was founded in Rouen 10 months after the establishment of the Mutuelle ACL, which is France’s oldest insurance company.”
*Information from Forbes.com and Axa.com
**Video published on YouTube by “AXA Philippines“