AXA is a French global insurance companies group headquartered in Paris and founded in 1985 by Claude Bébéar. AXA is not the name of a single company but a group of companies independently organized and operated according to the regulations of many different countries.
The AXA group of companies are engaged in life, health and other forms of insurance, as well as investment management. The AXA group operates primarily in Western Europe, North America and the Asia Pacific region and the Middle East.
There are five operating business segments with the AXA group of companies: Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services.
The combined group has 189,000 employees and US$122 billion of revenues in 2004. AXA ranks as the 15th largest company in the world (based on revenues) on the 2006 Fortune Global 500 list.
AXA run its investment branch through AXA Investment Managers (IM).
Unlike the United Kingdom, the Isle of Man does not require the same access to liquidity of funds in case the company runs into problems. 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 and 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, and this poses some risk since the island has its own police and governmental regulatory agencies. Relationship with the United Kingdom is primarily restricted to foreign affairs.
The business units are:
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) (famous for the song "Mony Mony" that the logo on its building inspired), 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 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 Securities 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, Korea (under partnership with Kyobo Life) 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 and AMP Make a Joint Proposal to AXA APH Whereby AXA Would Dispose of its 54% Stake in AXA APH to AMP and Would Acquire AXA APH Asian Operations.
Nov 30, 2010; axa announced that a joint proposal ("Proposal") by axa and AMP has been made to axa APH whereby AMP would...
AXA Asia-Pacific rejects $10.2 billion breakup plan; AXA unit in Australia rebuffs bid led by parent ; Offer is a sign of interest in Asia-Pacific region from banks and insurers
Nov 10, 2009; Bettina Wassener International Herald Tribune 11-10-2009 axa Asia-Pacific rejects $10.2 billion breakup plan; axa...