AXA Group A study on its operations, acquisitions and competition in the US market
"The 9th largest company in the world (according to Fortune Global 500 list, 200), AXA 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 earned Euro 90.97 billion revenues with a net profit of Euro 2.749 billion. Out of the total, Euro12.6billion of the revenues came from America. AXA is now operative in 60 different countries across the world with about 214,000 employees to look after its 95 million clients. The main competitors of AXA are, Aegon N.V., Cigna Corporation, Daiichi Life Insurance Company, Limited
The segment of AXA, which operates in the US, is known as the Equitable Life Insurance Company. The company was established in 1859 with its headquarters in New York. It is a subsidiary of the main headquarters, the AXA Financial, Inc. The company has around 5,253 employees. The Equitable Life Insurance Company along with its additional branches offers services related to finance, insurance, and investment in the US. Insurance and Investment Management are the two sections of the company. The Insurance section provides different types of life insurance products like variable and fixed-interest products, mutual funds and other investment policies, assistance in asset management and financial arrangement to people or any business organization. On the other hand the Investment Management section offers various investment solutions, mutual funds and other investment programs to corporate clients both government and non-government.
AXA has achieved its present position by being innovative in attending the clients need. They have focused themselves on three main ideals to meet the client's expectations, which include, attentiveness to the clients, the company's reliability, and finally, their availability at all times for the customers. "