AXA Group A study on the French global financial provider and its UK operations
"AXA is the 9th largest company in the world (according to Fortune Global 500 list, 200) in terms of revenue. It was founded in the year 1816 as Mutuelle de L'assurance contre L'incendie. Later after a series of acquisitions it took the name AXA. It is a French company dealing in global insurance. At present, the company has its branches in Western Europe, North America and the Asia Pacific region and the Middle East. AXA is a corporation of different business, which works independently according to the rules of the country in which it is operative. It has its headquarters in the 8th Arrondissement of Paris. The company provides financial services throughout the world. It deals in various forms of insurance like life, health, etc. It also provides investment management solutions. Strictly speaking, the company operates in five departments. They are Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services.
In the year 2010, the company was successful in earning Euro 90.97 billion revenues with a net profit of Euro 2.749 billion. In which Euro 61.4billion came from Europe itself. AXA is now operative in 6 different countries across the world with about 214,000 employees to look after its 95 million clients.
In business in the United Kingdom has been very eventful for AXA. It operated in the UK under the name AXA Sun Life, which was created by the merger of AXA Equity & Law and Sun Life Assurance Society PLC. However, later in the year 2010, AXA sold AXA Sun Life Holding to Resolution Limited. The other names under which AXA functions in the UK are the AXA Insurance, AXA Investment Managers and AXA PPP Healthcare. AXA's acquisition of Guardian Royal Exchange created the AXA PPH Healthcare. The company performed a number of acquisitions in the country under which the Swiftcover (online insurance)happened, Denplan (dental payment provider), Bluefin, Aechitas and Winterthur Life in 2006. With the rising competition from the market, the company was reorganized into what is known as strategic business units (SBU's). In the year 2005 AXA formed the ""Northern Europe"" region including AXA's functioning in Belgium, Luxembourg, the Netherlands, Germany and Switzerland, to speed up the progress and perk up the competence of its action those countries."