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Axa

April 14, 2024

For other uses, see Axa (disambiguation).

Axa S.A. is a French multinational insurance company headquartered in the 8th arrondissement of Paris. It also provides investment management and other financial services as part of its subsidiaries. As of 2023, it is the largest financial services company by revenue in France, and the 4th largest French company.[9]

AXA S.A.
Headquarters at Hôtel de La Vaupalière, Paris
Company typePublic (Société Anonyme)
Euronext Paris: CS
CAC 40 Component
IndustryFinancial services
Founded1921; 103 years ago (1921)[1]
HeadquartersHôtel de La Vaupalière, 25 Avenue Matignon,
France
Area served
Worldwide
Key people
Thomas Buberl (CEO)
Denis Duverne
(Chairman of the Board)
Products
Revenue €83.627 billion (2023)[2]
€6.34 billion (2023)[3]
€7.37 billion (2023)[4]
AUM €945.50 billion (2023)[5]
Total assets €644.44 billion (2023)[6]
Total equity €52.39 billion (2023)[7]
Number of employees
113,696 (2023)[8]
SubsidiariesAxa Bank Belgium
Axa Investment Managers
Axa XL
Websitewww.axa.com

The Axa Group operates primarily in Western Europe, North America, the Indian Pacific region, and the Middle East, with a presence also in Africa. Axa is a conglomerate of independently run businesses, operated according to the laws and regulations of many countries. It is a component of the Euro Stoxx 50 stock market index.[10] In 2023, the company was ranked 48th in the Forbes Global 2000.[11]

Name edit

Despite being written by the company in upper case, "AXA" is not an acronym. It was chosen because its name can be pronounced easily by people who speak any language. After acquiring the Drouot Group in 1982, chairman and CEO Claude Bébéar hired an outside consultant to conduct a computer-aided search for a new name. Bébéar wanted a short and snappy name to convey vitality and could be pronounced the same way in every language, consistent with the group's desire for an international presence. Initially, "Elan" was the top choice, but Canadian executives balked because "elan" is the French word for a moose or elk. In 1985, Bébéar chose the name Axa.[12]

History edit

The company was founded in 1816 as Mutuelle de L'assurance contre L'incendie (the Ancienne Mutuelle).[13] It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies.[14] In 1982, it merged with the Drouot Group, owned by the Hottinguer family, becoming Mutuelles Unies/Drouot.

The firm adopted the Axa name in 1985.[14] Axa took over The Equitable in 1991[14] and bought Union des Assurances De Paris (UAP), France's largest insurer, in 1996 to become Axa-UAP. It reverted to the name Axa in 1999.[15] In February 1999, Axa acquired Guardian Royal Exchange.[16] In May 2000, it acquired all shares it did not already own in Sun Life & Provincial Holdings.[17] On 14 June 2006, Axa acquired Winterthur Group from Credit Suisse for approximately €9 billion.[18] As of 2011, Axa was the second most powerful transnational corporation in terms of corporate control over global financial stability.[19][20]

In May 2016, the firm announced that it would stop investing in tobacco shares and bonds and allow its portfolio of tobacco-related bonds to run off.[21] On 12 September 2018, Axa acquired XL Group Ltd, a Bermuda-based property and casualty commercial lines insurer and reinsurer, for $15.3 billion.[22] In October 2019, the company sold Axa Bank Belgium to Crelan for €620 million (US$688.51 million).[23][24]

In 2019, AXA partially disinvested from the Israeli arms group Elbit Systems following pressure from the Boycott, Divestment and Sanctions movement.[25] The move followed several years of campaigning by NGOs, including an April 2018 petition launched by SumOfUs that received 140,000 signatures, leading AXA to “quietly reduce” its investments in Elbit and Israeli banks.[25] AXA remains indirectly invested in Elbit and Israeli banks through a non-controlling interest in its former subsidiary Alliance Bernstein.[25]

In 2023 AXA has increased investments in Israel’s illegal settlements as a shareholder in 3 Israeli banks: Bank Hapoalim (US$ 9.99M), Bank Leumi (US$ 6M), Israel Discount Bank (US$ 3.4M) and is one of the companies on BDS list that recommends divestment from AXA.

In February 2023, the company sold a 7.94% stake in Banca Monte dei Paschi di Siena (MPS) to institutional investors. The package included approximately 100,000,000 MPS shares at a price of €2.33 ($2.5) per share, for a total transaction value of €233 million ($250 million). Axa retained 0.0007% of the Italian bank's capital.[26]

Axa Investment Managers acquired France's Bry-sur-Marne film studio and the 12 hectare plot of land on which it is located for €150m in June 2023.[27]

Headquarters edit

Axa headquarters is located in the 8th arrondissement of Paris.[28] 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.[29]

Capital ownership edit

Capital ownership as of 31 December 2010[30]

Operations edit

 
Axa Group global locations

United Kingdom edit

Axa trades in the United Kingdom as Axa UK, with subsidiaries including Axa Insurance, Axa Wealth and Axa Health. AXA PPP International was the trading name for AXA PPP healthcare's international health insurance division, which was later rebranded as AXA - Global Healthcare on 1 January 2017. The company bought the online insurer Swiftcover, notorious for its controversial Iggy Pop TV advertising campaign which was subsequently banned.[31]

In September 2013, Axa Wealth was fined £1.8 million by the FCA for failing to ensure it gave suitable investment advice to its customers. The regulator says it found "serious defects" in the way Axa advisers in Clydesdale Bank, Yorkshire Bank and the West Bromwich Building Society advised customers on investments.[32]

In 2018, they became the 'Official Global Insurance' partner of Premier League team Liverpool F.C. and in 2019, began sponsoring the training kits of the team.[33] In 2020, the partnership was cemented further, when they purchased the naming rights to the club's newly built training centre, which became officially known as 'The AXA Training Centre.'[34]

In 2016, Axa Wealth was sold to the Phoenix Group.[35]

Axa Health edit

AXA Health sells private medical insurance in the UK and was known as AXA PPP Healthcare until 2020.[36] It was previously the London Association for Hospital Services, set up in 1938 as a private healthcare scheme for people of middle income in London.[37][38] It was incorporated in 1940 with assistance from the British Medical Association, the King's Fund, and the medical royal colleges.[39]

Guardian Royal Exchange Assurance bought it in 1998 for £435 million; a year later it was bought by Sun Life & Provincial Holdings, an Axa subsidiary.[40]

Axa Global Healthcare edit

Axa - Global Healthcare has previously been known as Axa PPP International, Axa Global Protect or Axa Healthcare Management. In 2017, the subsidiary Axa - Global Healthcare became an independent Managing General Agent, selling and administering international health insurance products. While Axa Health provides insurance across the UK, Axa - Global Healthcare caters to those needing health insurance around the world.[41]

In 2018, Axa - Global Healthcare launched a Virtual Doctor service for its customers with outpatient cover and in 2020 offered it across all plans.[42] Provided by Teladoc Health, it offers anytime access to medical advice by phone or video by doctors located around the world who speak more than 15 languages and is targeted at expatriates.[43]

Axa Ireland edit

Axa established a presence in Ireland in 1999 when it bought British-based Guardian Royal Exchange,[44] which had previously acquired PMPA.[45] PMPA, Private Motorists Protection Association,[46] was at the time one of Ireland's biggest insurance companies. It is the third-largest general insurer in the Republic of Ireland.[45]

In August 2023, it was announced Axa had acquired the Little Island, Cork-headquartered health insurance company, Laya Healthcare for €650 million.[47]

AXA Canada edit

Axa Canada marketed insurance in Quebec, Ontario, Western Canada and Atlantic Canada. In 2009 it had a total of approximately 2300 employees and 4000 brokers and advisors. The head office was in Montreal, Quebec. In 2011 it was sold to Intact Financial Corp. for C$2.6 billion.[48]

AXA United States edit

The American arm of Axa is Axa Financial, Inc., which is known mainly through its subsidiaries such as Axa Advisors, Axa Network, MONY (formerly Mutual of New York), US Financial Life, and AllianceBernstein.[49] The Equitable was acquired in 1991; the Mutual Life Insurance Company of New York (MONY) was acquired in 2004.[50][51]

Axa's US operations are incorporated in Delaware.[52]

Mexico edit

In July 2008, Axa acquired ING Insurance Mexico, offering essentially the same services that ING offered. Axa then sued an ING Group subsidiary over alleged misrepresentations in the $1.5 billion sale stating it suffered "tens (if not hundreds) of millions of dollars in damages."[53]

Australia edit

In 1995 the Axa Group purchased a 51 per cent controlling interest in the Australian life insurer, National Mutual Life Association of Australia for NF4 billion, that was claimed at the time to contribute about 15 percent of the Axa Group's worldwide insurance-premium income.[54] In 2011, [AMP Limited] and Axa SA agreed to acquire Axa Asia pacific, merging Australian operations under the AMP brand.[55]

Africa edit

In April 2016 Axa unveiled a partnership with Lloyd's of London insurer Chaucer Holdings to enter the growing market of speciality insurance in Africa. Axa Africa Specialty Risks helps to mitigate risks through its coverholder, Chaucer Syndicate 1084 and Axa Africa Specialty Risks 6130. Axa ASR focuses on specialty and corporate lines, with coverage and an on-the-ground presence across Africa. Axa and Lloyd's both have excellent international financial strength ratings (AA- by Fitch and A+ by Standard & Poor's). The lines of business include: Political Risk, Political Violence and Terrorism, Energy, Construction, Property, Liability, Marine and Aviation. Since 2014 Axa has made several acquisitions of other insurers in an attempt to expand. Axa already operates in Cameroon, Egypt, Gabon, Ivory Coast, Morocco, Nigeria, Senegal and Algeria.[56] Axa Africa also has a role in the trade between Asia and some African countries.[57]

Kamet Ventures edit

In January 2016, Axa created Kamet Ventures, an insurtech incubator, to build disruptive businesses in the insurance, healthcare and assistance space with an initial funding of €100 million. Some of Kamet's investments include an insurance advice platform, Anorak Technologies and an elderly care platform, Birdie [58][59][60]

Axa Investment Managers edit

Main article: Axa Investment Managers

Axa Investment Managers (Axa IM), is a global investment —management firm with offices in over 22 locations worldwide. As of 31 December 2020, it manages over €858 billion in assets on behalf of institutional and retail clients. It operates as the investment arm for Axa.

AXA Hong Kong & Macau edit

AXA Asia Pacific Holdings Limited acquired MLC (Hong Kong) Limited and re-branded it as AXA (Hong Kong) Life Insurance Company Limited in 2006.[61]

Former holdings edit

Further information: SunLife

In 2010, Axa sold a UK business unit called SunLife to Resolution Limited.[62]

In 2021, the Gulf Insurance Group acquired AXA's holdings in the Gulf region, rebranding them as GIG in the Middle East.[63]

Philanthropy edit

Besides its artistic and social philanthropic initiatives (Axa Hearts in Action),[64] Axa created the Axa Research Fund in 2008. Endowed with €100 million, it provides support for research focused on understanding and preventing the risks threatening the environment, human life and society.[65]

The Fund has also awarded eleven endowments for several million euros supporting research institutions of excellence (Nanyang Technological University, Singapore, HEC Paris, National University of Singapore, University of Bristol, London School of Economics, Met Office, INSERM, IHES). These research and education chairs intend to attract the best scientists. For example, the Axa Polytechnique Chair in Cellular Cardiovascular Engineering.[66]

After joining the Access to Medicine Foundation, Axa allocates a donation of 500,000 euros to the Foundation's activities relating to the prevention of infectious diseases and the response to pandemics such as COVID-19.[67]

See also edit

References edit

  1. ^ "AXA group: history and growth". Atlas Magazine. 21 May 2013.
  2. ^ "Earnings Presentations 2023".
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  10. ^ . Archived from the original on 8 February 2019. Retrieved 22 October 2015.
  11. ^ . Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
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  13. ^ . Axa-iom.co.im. 12 November 1996. Archived from the original on 8 March 2012. Retrieved 20 December 2012.
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  17. ^ Sun Life Stock soars as Axa ups bid to £24bn for remaining stake 26 May 2009 at the Wayback Machine Independent, 3 May 2000
  18. ^ Axa buys Swiss rival Winterthur 5 January 2007 at the Wayback Machine BBC News, 14 June 2006
  19. ^ (PDF). Archived from the original (PDF) on 4 October 2016. Retrieved 11 August 2016.{{cite web}}: CS1 maint: archived copy as title (link)
  20. ^ Stefania Vitali; James B. Glattfelder; Stefano Battiston (26 October 2011). "The Network of Global Corporate Control". PLOS One. 6 (10): e25995. arXiv:1107.5728. Bibcode:2011PLoSO...625995V. doi:10.1371/journal.pone.0025995. PMC 3202517. PMID 22046252.
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  24. ^ "French insurer AXA to sell its Belgian bank for 620m euros". The Business Times. 25 October 2019. Retrieved 25 October 2019.
  25. ^ a b c "France investment firm AXA IM divests from Israel arms manufacturer". Middle East Monitor.
  26. ^ . Atlas Magazine. Archived from the original on 17 February 2024. Retrieved 26 February 2024.
  27. ^ . Screendaily. Archived from the original on 5 June 2023. Retrieved 25 February 2024.
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  36. ^ "Homepage". AXA Health. Retrieved 4 December 2022.
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  38. ^ Barrett, Sam (30 August 2011). . Employee Benefits. Archived from the original on 3 December 2013. Retrieved 26 November 2013.
  39. ^ The Committee Office, House of Commons (21 July 1999). "House of Commons - Health - Appendices to the Minutes of Evidence". Publications.parliament.uk. Retrieved 26 November 2013.
  40. ^ . Ukbusinesspark.co.uk. Archived from the original on 3 December 2013. Retrieved 26 November 2013.
  41. ^ "AXA Global Healthcare Journey - About Us". AXA.
  42. ^ "AXA – Global Healthcare introduces virtual doctor service". AXA.
  43. ^ "AXA - Global Healthcare introduces virtual doctor service". Building Better Healthcare. 3 October 2018. Retrieved 8 November 2018.
  44. ^ Treaster, Joseph B. (2 February 1999). "INTERNATIONAL BUSINESS; AXA of France to Buy Guardian of Britain". The New York Times – via The New York Times.
  45. ^ a b "Irish Times - AXA plans €10m investment to expand financial services". The Irish Times.
  46. ^ "Irish insurance troubles nothing new". 8 April 2010 – via news.bbc.co.uk.
  47. ^ Lawther, Robbie (3 August 2023). "Axa boosts European health operation with €650m acquisition". International Adviser. Retrieved 3 August 2023.
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  51. ^ Norris, Floyd (19 May 2004). "Axa wins bitter fight for MONY". The New York Times. ISSN 0362-4331. from the original on 20 April 2015. Retrieved 19 April 2015.
  52. ^ "10-K". 10-K. Retrieved 1 June 2019.
  53. ^ Freifeld, Karen (29 November 2010). "Axa Sues ING Over $1.5 Billion Mexican Company Sale". Bloomberg News. from the original on 1 October 2016. Retrieved 27 September 2016.
  54. ^ MacLeod, Helen (9 August 1995). "Axa to buy 51 percent of Australia's National Mutual". joc.com. Retrieved 27 December 2018.
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  56. ^ "Axa SA". Plunkett Research. from the original on 1 October 2016. Retrieved 27 September 2016.
  57. ^ "Assurances : comment Axa Africa joue la carte de l'Asie". Jeune Afrique. 22 September 2022.
  58. ^ "Birdie Raises €7M To Keep The Elderly Living At Home". Forbes. 26 November 2018. Retrieved 12 December 2018.
  59. ^ "Kamet, The beginning! - Kamet Ventures". Kamet Ventures. 15 January 2016. Retrieved 25 January 2018.
  60. ^ "Axa | Axa launches Kamet, a €100m InsurTech incubator". from the original on 26 January 2018. Retrieved 25 January 2018.
  61. ^ Thurlow, Rebecca (22 February 2006). "AXA Asia Pacific Sets Deal". The Wall Street Journal. ISSN 0099-9660. Retrieved 10 June 2021.
  62. ^ (PDF). 20 May 2019. Archived from the original (PDF) on 7 October 2010.
  63. ^ "Gulf Insurance Group completes buyout of AXA's Gulf region business". insurancebusinessmag.com. 8 September 2021. Retrieved 1 August 2023.
  64. ^ "axa-atoutcoeur.fr". axa-atoutcoeur.fr. from the original on 28 December 2012. Retrieved 20 December 2012.
  65. ^ "AXA and CARE team up for risk prevention education". Axa Group. Prevention Web. 18 April 2011. from the original on 1 October 2016. Retrieved 27 September 2016.
  66. ^ "chair-axa-cce.polytechnique.fr". chair-axa-cce.polytechnique.fr. Archived from the original on 26 August 2011. Retrieved 20 December 2012.
  67. ^ "AXA IM s'associe à la Fondation Access to Medicine". Allnews (in French). 12 May 2020. Retrieved 12 May 2020.

External links edit

 
Wikimedia Commons has media related to AXA.

April 14, 2024
other, uses, disambiguation, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor. For other uses see Axa disambiguation This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Axa news newspapers books scholar JSTOR March 2021 Learn how and when to remove this template message Axa S A is a French multinational insurance company headquartered in the 8th arrondissement of Paris It also provides investment management and other financial services as part of its subsidiaries As of 2023 it is the largest financial services company by revenue in France and the 4th largest French company 9 AXA S A Headquarters at Hotel de La Vaupaliere ParisCompany typePublic Societe Anonyme Traded asEuronext Paris CS CAC 40 ComponentIndustryFinancial servicesFounded1921 103 years ago 1921 1 HeadquartersHotel de La Vaupaliere 25 Avenue Matignon FranceArea servedWorldwideKey peopleThomas Buberl CEO Denis Duverne Chairman of the Board ProductsInsuranceGeneral insuranceHealth insuranceVehicle insuranceTravel insuranceHome insuranceLife insuranceMortgage loansInvestment managementAsset managementMutual fundsRevenue 83 627 billion 2023 2 Operating income 6 34 billion 2023 3 Net income 7 37 billion 2023 4 AUM 945 50 billion 2023 5 Total assets 644 44 billion 2023 6 Total equity 52 39 billion 2023 7 Number of employees113 696 2023 8 SubsidiariesAxa Bank BelgiumAxa Investment ManagersAxa XLWebsitewww wbr axa wbr comThe Axa Group operates primarily in Western Europe North America the Indian Pacific region and the Middle East with a presence also in Africa Axa is a conglomerate of independently run businesses operated according to the laws and regulations of many countries It is a component of the Euro Stoxx 50 stock market index 10 In 2023 the company was ranked 48th in the Forbes Global 2000 11 Contents 1 Name 2 History 3 Headquarters 4 Capital ownership 5 Operations 5 1 United Kingdom 5 2 Axa Health 5 3 Axa Global Healthcare 5 4 Axa Ireland 5 5 AXA Canada 5 6 AXA United States 5 7 Mexico 5 8 Australia 5 9 Africa 5 10 Kamet Ventures 5 11 Axa Investment Managers 5 12 AXA Hong Kong amp Macau 5 13 Former holdings 6 Philanthropy 7 See also 8 References 9 External linksName editDespite being written by the company in upper case AXA is not an acronym It was chosen because its name can be pronounced easily by people who speak any language After acquiring the Drouot Group in 1982 chairman and CEO Claude Bebear hired an outside consultant to conduct a computer aided search for a new name Bebear wanted a short and snappy name to convey vitality and could be pronounced the same way in every language consistent with the group s desire for an international presence Initially Elan was the top choice but Canadian executives balked because elan is the French word for a moose or elk In 1985 Bebear chose the name Axa 12 History editThe company was founded in 1816 as Mutuelle de L assurance contre L incendie the Ancienne Mutuelle 13 It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies 14 In 1982 it merged with the Drouot Group owned by the Hottinguer family becoming Mutuelles Unies Drouot The firm adopted the Axa name in 1985 14 Axa took over The Equitable in 1991 14 and bought Union des Assurances De Paris UAP France s largest insurer in 1996 to become Axa UAP It reverted to the name Axa in 1999 15 In February 1999 Axa acquired Guardian Royal Exchange 16 In May 2000 it acquired all shares it did not already own in Sun Life amp Provincial Holdings 17 On 14 June 2006 Axa acquired Winterthur Group from Credit Suisse for approximately 9 billion 18 As of 2011 Axa was the second most powerful transnational corporation in terms of corporate control over global financial stability 19 20 In May 2016 the firm announced that it would stop investing in tobacco shares and bonds and allow its portfolio of tobacco related bonds to run off 21 On 12 September 2018 Axa acquired XL Group Ltd a Bermuda based property and casualty commercial lines insurer and reinsurer for 15 3 billion 22 In October 2019 the company sold Axa Bank Belgium to Crelan for 620 million US 688 51 million 23 24 In 2019 AXA partially disinvested from the Israeli arms group Elbit Systems following pressure from the Boycott Divestment and Sanctions movement 25 The move followed several years of campaigning by NGOs including an April 2018 petition launched by SumOfUs that received 140 000 signatures leading AXA to quietly reduce its investments in Elbit and Israeli banks 25 AXA remains indirectly invested in Elbit and Israeli banks through a non controlling interest in its former subsidiary Alliance Bernstein 25 In 2023 AXA has increased investments in Israel s illegal settlements as a shareholder in 3 Israeli banks Bank Hapoalim US 9 99M Bank Leumi US 6M Israel Discount Bank US 3 4M and is one of the companies on BDS list that recommends divestment from AXA In February 2023 the company sold a 7 94 stake in Banca Monte dei Paschi di Siena MPS to institutional investors The package included approximately 100 000 000 MPS shares at a price of 2 33 2 5 per share for a total transaction value of 233 million 250 million Axa retained 0 0007 of the Italian bank s capital 26 Axa Investment Managers acquired France s Bry sur Marne film studio and the 12 hectare plot of land on which it is located for 150m in June 2023 27 Headquarters editAxa headquarters is located in the 8th arrondissement of Paris 28 Axa which already owned 23 Avenue Matignon acquired the former Hotel de La Vaupaliere 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 29 Capital ownership editThis section needs additional citations for verification Please help improve this article by adding citations to reliable sources in this section Unsourced material may be challenged and removed April 2017 Learn how and when to remove this template message This section needs to be updated Please help update this article to reflect recent events or newly available information February 2023 United States 18 8 France 16 5 United Kingdom 10 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 as of 31 December 2010 30 Operations edit nbsp Axa Group global locationsUnited Kingdom edit Axa trades in the United Kingdom as Axa UK with subsidiaries including Axa Insurance Axa Wealth and Axa Health AXA PPP International was the trading name for AXA PPP healthcare s international health insurance division which was later rebranded as AXA Global Healthcare on 1 January 2017 The company bought the online insurer Swiftcover notorious for its controversial Iggy Pop TV advertising campaign which was subsequently banned 31 In September 2013 Axa Wealth was fined 1 8 million by the FCA for failing to ensure it gave suitable investment advice to its customers The regulator says it found serious defects in the way Axa advisers in Clydesdale Bank Yorkshire Bank and the West Bromwich Building Society advised customers on investments 32 In 2018 they became the Official Global Insurance partner of Premier League team Liverpool F C and in 2019 began sponsoring the training kits of the team 33 In 2020 the partnership was cemented further when they purchased the naming rights to the club s newly built training centre which became officially known as The AXA Training Centre 34 In 2016 Axa Wealth was sold to the Phoenix Group 35 Axa Health edit AXA Health sells private medical insurance in the UK and was known as AXA PPP Healthcare until 2020 36 It was previously the London Association for Hospital Services set up in 1938 as a private healthcare scheme for people of middle income in London 37 38 It was incorporated in 1940 with assistance from the British Medical Association the King s Fund and the medical royal colleges 39 Guardian Royal Exchange Assurance bought it in 1998 for 435 million a year later it was bought by Sun Life amp Provincial Holdings an Axa subsidiary 40 Axa Global Healthcare edit Axa Global Healthcare has previously been known as Axa PPP International Axa Global Protect or Axa Healthcare Management In 2017 the subsidiary Axa Global Healthcare became an independent Managing General Agent selling and administering international health insurance products While Axa Health provides insurance across the UK Axa Global Healthcare caters to those needing health insurance around the world 41 In 2018 Axa Global Healthcare launched a Virtual Doctor service for its customers with outpatient cover and in 2020 offered it across all plans 42 Provided by Teladoc Health it offers anytime access to medical advice by phone or video by doctors located around the world who speak more than 15 languages and is targeted at expatriates 43 Axa Ireland edit Axa established a presence in Ireland in 1999 when it bought British based Guardian Royal Exchange 44 which had previously acquired PMPA 45 PMPA Private Motorists Protection Association 46 was at the time one of Ireland s biggest insurance companies It is the third largest general insurer in the Republic of Ireland 45 In August 2023 it was announced Axa had acquired the Little Island Cork headquartered health insurance company Laya Healthcare for 650 million 47 AXA Canada edit Axa Canada marketed insurance in Quebec Ontario Western Canada and Atlantic Canada In 2009 it had a total of approximately 2300 employees and 4000 brokers and advisors The head office was in Montreal Quebec In 2011 it was sold to Intact Financial Corp for C 2 6 billion 48 AXA United States edit The American arm of Axa is Axa Financial Inc which is known mainly through its subsidiaries such as Axa Advisors Axa Network MONY formerly Mutual of New York US Financial Life and AllianceBernstein 49 The Equitable was acquired in 1991 the Mutual Life Insurance Company of New York MONY was acquired in 2004 50 51 Axa s US operations are incorporated in Delaware 52 Mexico edit In July 2008 Axa acquired ING Insurance Mexico offering essentially the same services that ING offered Axa then sued an ING Group subsidiary over alleged misrepresentations in the 1 5 billion sale stating it suffered tens if not hundreds of millions of dollars in damages 53 Australia edit In 1995 the Axa Group purchased a 51 per cent controlling interest in the Australian life insurer National Mutual Life Association of Australia for NF4 billion that was claimed at the time to contribute about 15 percent of the Axa Group s worldwide insurance premium income 54 In 2011 AMP Limited and Axa SA agreed to acquire Axa Asia pacific merging Australian operations under the AMP brand 55 Africa edit In April 2016 Axa unveiled a partnership with Lloyd s of London insurer Chaucer Holdings to enter the growing market of speciality insurance in Africa Axa Africa Specialty Risks helps to mitigate risks through its coverholder Chaucer Syndicate 1084 and Axa Africa Specialty Risks 6130 Axa ASR focuses on specialty and corporate lines with coverage and an on the ground presence across Africa Axa and Lloyd s both have excellent international financial strength ratings AA by Fitch and A by Standard amp Poor s The lines of business include Political Risk Political Violence and Terrorism Energy Construction Property Liability Marine and Aviation Since 2014 Axa has made several acquisitions of other insurers in an attempt to expand Axa already operates in Cameroon Egypt Gabon Ivory Coast Morocco Nigeria Senegal and Algeria 56 Axa Africa also has a role in the trade between Asia and some African countries 57 Kamet Ventures edit In January 2016 Axa created Kamet Ventures an insurtech incubator to build disruptive businesses in the insurance healthcare and assistance space with an initial funding of 100 million Some of Kamet s investments include an insurance advice platform Anorak Technologies and an elderly care platform Birdie 58 59 60 Axa Investment Managers edit Main article Axa Investment Managers Axa Investment Managers Axa IM is a global investment management firm with offices in over 22 locations worldwide As of 31 December 2020 it manages over 858 billion in assets on behalf of institutional and retail clients It operates as the investment arm for Axa AXA Hong Kong amp Macau edit AXA Asia Pacific Holdings Limited acquired MLC Hong Kong Limited and re branded it as AXA Hong Kong Life Insurance Company Limited in 2006 61 Former holdings edit Further information SunLife In 2010 Axa sold a UK business unit called SunLife to Resolution Limited 62 In 2021 the Gulf Insurance Group acquired AXA s holdings in the Gulf region rebranding them as GIG in the Middle East 63 Philanthropy editBesides its artistic and social philanthropic initiatives Axa Hearts in Action 64 Axa created the Axa Research Fund in 2008 Endowed with 100 million it provides support for research focused on understanding and preventing the risks threatening the environment human life and society 65 The Fund has also awarded eleven endowments for several million euros supporting research institutions of excellence Nanyang Technological University Singapore HEC Paris National University of Singapore University of Bristol London School of Economics Met Office INSERM IHES These research and education chairs intend to attract the best scientists For example the Axa Polytechnique Chair in Cellular Cardiovascular Engineering 66 After joining the Access to Medicine Foundation Axa allocates a donation of 500 000 euros to the Foundation s activities relating to the prevention of infectious diseases and the response to pandemics such as COVID 19 67 See also edit nbsp France portal nbsp Companies portalAxa Investment Managers Ardian formerly Axa Private Equity References edit AXA group history and growth Atlas Magazine 21 May 2013 Earnings Presentations 2023 Earnings Presentations 2023 Earnings Presentations 2023 Earnings Presentations 2023 Earnings Presentations 2023 Earnings Presentations 2023 Footprint 2023 Fortune 500 The largest companies in the U S by revenue Fortune Retrieved 1 April 2024 Borse Frankfurt Frankfurt Stock Exchange Stock market quotes charts and news Archived from the original on 8 February 2019 Retrieved 22 October 2015 The Global 2000 2023 Forbes Archived from the original on 29 January 2024 Retrieved 7 February 2024 The AXA brand Axa com Archived from the original on 8 December 2012 Retrieved 20 December 2012 Axa Isle of Man History Axa iom co im 12 November 1996 Archived from the original on 8 March 2012 Retrieved 20 December 2012 a b c milestones Axa Archived from the original on 3 May 2012 Retrieved 20 December 2012 Axa to buy UAP Archived 23 May 2009 at the Wayback Machine International Herald Tribune 13 November 1996 Axa of France to buy Guardian of Britain New York Times 2 February 1999 Sun Life Stock soars as Axa ups bid to 24bn for remaining stake Archived 26 May 2009 at the Wayback Machine Independent 3 May 2000 Axa buys Swiss rival Winterthur Archived 5 January 2007 at the Wayback Machine BBC News 14 June 2006 Archived copy PDF Archived from the original PDF on 4 October 2016 Retrieved 11 August 2016 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Stefania Vitali James B Glattfelder Stefano Battiston 26 October 2011 The Network of Global Corporate Control PLOS One 6 10 e25995 arXiv 1107 5728 Bibcode 2011PLoSO 625995V doi 10 1371 journal pone 0025995 PMC 3202517 PMID 22046252 Axa stops investing in tobacco shares and bonds FundsandShares co uk 23 May 2016 Archived from the original on 16 August 2016 Axa completes 15B acquisition of XL Group ratings upgraded Business Insurance Retrieved 13 February 2019 French insurer AXA to sell its Belgian bank for 689 mln Reuters 25 October 2019 Retrieved 25 October 2019 French insurer AXA to sell its Belgian bank for 620m euros The Business Times 25 October 2019 Retrieved 25 October 2019 a b c France investment firm AXA IM divests from Israel arms manufacturer Middle East Monitor AXA sells its stake in Banca Monte dei Paschi di Siena Atlas Magazine Archived from the original on 17 February 2024 Retrieved 26 February 2024 Axa acquires France s Bry sur Marne film studio in 150m deal plans to double production capacity Screendaily Archived from the original on 5 June 2023 Retrieved 25 February 2024 AXA F A Q Archived from the original on 9 July 2010 Retrieved 7 July 2010 Axa allie patrimoine et modernite Archived 28 September 2011 at the Wayback Machine Le Journal du Net fr Retrieved on 7 July 2010 The AXA Group Group Profile AXA in figures Archived from the original on 15 August 2011 Retrieved 25 August 2011 Haurant Sandra 29 April 2009 Swiftcover s Iggy Pop advert banned The Guardian Axa Wealth fined 1 8m for investment advice failings 19 September 2013 Archived from the original on 3 October 2013 Liverpool FC partnership AXA co uk AXA Retrieved 22 May 2021 Dixon Ed 27 October 2020 Liverpool expand AXA deal to include training centre naming rights SportsPro Media SportsPro Media Ltd Retrieved 22 May 2021 AXA UK sells AXA Wealth and SunLife to Phoenix announces leadership change www investmentweek co uk 27 May 2016 Retrieved 3 March 2021 Homepage AXA Health Retrieved 4 December 2022 Axa PPP Company History Pacificprime com Retrieved 26 November 2013 Barrett Sam 30 August 2011 Buyer s guide to private medical insurance Buyer s guide Employee Benefits Archived from the original on 3 December 2013 Retrieved 26 November 2013 The Committee Office House of Commons 21 July 1999 House of Commons Health Appendices to the Minutes of Evidence Publications parliament uk Retrieved 26 November 2013 Guardian Royal Exchange market intelligence Ukbusinesspark co uk Archived from the original on 3 December 2013 Retrieved 26 November 2013 AXA Global Healthcare Journey About Us AXA AXA Global Healthcare introduces virtual doctor service AXA AXA Global Healthcare introduces virtual doctor service Building Better Healthcare 3 October 2018 Retrieved 8 November 2018 Treaster Joseph B 2 February 1999 INTERNATIONAL BUSINESS AXA of France to Buy Guardian of Britain The New York Times via The New York Times a b Irish Times AXA plans 10m investment to expand financial services The Irish Times Irish insurance troubles nothing new 8 April 2010 via news bbc co uk Lawther Robbie 3 August 2023 Axa boosts European health operation with 650m acquisition International Adviser Retrieved 3 August 2023 Rocha Euan 31 May 2011 Intact to acquire Axa s Canadian arm for C 2 6 billion Reuters Archived from the original on 20 November 2015 Request Rejected Archived from the original on 10 June 2014 Retrieved 5 July 2017 About Us Axa Group Archived from the original on 8 August 2013 Malkin Lawrence Neher Jacques 19 July 1991 French Insurer To Put 1 Billion Into Equitable Axa Buys Stake in U S Firm The New York Times ISSN 0362 4331 Archived from the original on 20 April 2015 Retrieved 19 April 2015 Norris Floyd 19 May 2004 Axa wins bitter fight for MONY The New York Times ISSN 0362 4331 Archived from the original on 20 April 2015 Retrieved 19 April 2015 10 K 10 K Retrieved 1 June 2019 Freifeld Karen 29 November 2010 Axa Sues ING Over 1 5 Billion Mexican Company Sale Bloomberg News Archived from the original on 1 October 2016 Retrieved 27 September 2016 MacLeod Helen 9 August 1995 Axa to buy 51 percent of Australia s National Mutual joc com Retrieved 27 December 2018 AMP AXA SA launch 13 1 billion bid for AXA Asia Pacific Reuters 15 November 2010 Axa SA Plunkett Research Archived from the original on 1 October 2016 Retrieved 27 September 2016 Assurances comment Axa Africa joue la carte de l Asie Jeune Afrique 22 September 2022 Birdie Raises 7M To Keep The Elderly Living At Home Forbes 26 November 2018 Retrieved 12 December 2018 Kamet The beginning Kamet Ventures Kamet Ventures 15 January 2016 Retrieved 25 January 2018 Axa Axa launches Kamet a 100m InsurTech incubator Archived from the original on 26 January 2018 Retrieved 25 January 2018 Thurlow Rebecca 22 February 2006 AXA Asia Pacific Sets Deal The Wall Street Journal ISSN 0099 9660 Retrieved 10 June 2021 Accessing Financial Services Authority website content PDF 20 May 2019 Archived from the original PDF on 7 October 2010 Gulf Insurance Group completes buyout of AXA s Gulf region business insurancebusinessmag com 8 September 2021 Retrieved 1 August 2023 axa atoutcoeur fr axa atoutcoeur fr Archived from the original on 28 December 2012 Retrieved 20 December 2012 AXA and CARE team up for risk prevention education Axa Group Prevention Web 18 April 2011 Archived from the original on 1 October 2016 Retrieved 27 September 2016 chair axa cce polytechnique fr chair axa cce polytechnique fr Archived from the original on 26 August 2011 Retrieved 20 December 2012 AXA IM s associe a la Fondation Access to Medicine Allnews in French 12 May 2020 Retrieved 12 May 2020 External links edit nbsp Wikimedia Commons has media related to AXA Official website nbsp Documents and clippings about Axa in the 20th Century Press Archives of the ZBW Retrieved from https en wikipedia org w index php title Axa amp oldid 1217068283, wikipedia, wiki, book, books, library,

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