AXA is a French bunch allowance close headquartered in the 8th arrondissement of Paris that engages in all-around insurance, investment management, and added banking services. The AXA Accumulation operates primarily in Western Europe, North America, the Asia Pacific region, and the Middle East, with attendance aswell in Africa. AXA is a amassed of apart run businesses, operated according to the laws and regulations of abounding altered countries. The aggregation is a basic of the Euro Stoxx 50 banal bazaar index.
History
The aggregation was originally founded in 1816 as Mutuelle de L'assurance contre L'incendie (the Ancienne Mutuelle).[4] It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies.[5] It went on to buy the Drouot Accumulation in 1982, acceptable Mutuelles Unies/Drouot. It adopted the AXA name in 1985.[5] The takeover of the American allowance aggregation The Equitable, came in 1991.[5] It bought Union des Assurances De Paris (UAP), France's better insurer, in 1996 acceptable AXA-UAP for a while afore reverting to the name AXA in 1999.[6] Then in February 1999 AXA acquired Guardian Royal Exchange.[7] In May 2000 AXA acquired all shares it did not already own in Sun Life & Provincial Holdings.[8] On 14 June 2006 AXA acquired the arch Swiss allowance aggregation Winterthur Accumulation from Credit Suisse for about €9 billion.
Despite getting accounting in high case, "AXA" is not an acronym, but was called because its name can be arresting calmly by humans who allege any language. After accepting the Drouot Accumulation in 1982, Chairman and CEO Claude Bébéar assassin an alfresco adviser to conduct a computer-aided seek for a new name. Bébéar capital a abbreviate and abrupt name to back animation and could be arresting the aforementioned way in every language, constant with the group's admiration for an all-embracing presence. Initially, "Elan" was the top choice, but Canadian admiral aghast because "elan" is the French chat for a moose or elk. In 1985, Bébéar chose the name AXA.
AXA trades in the United Kingdom as AXA UK application a amount of subsidiaries such as AXA Sun Life, AXA Insurance, AXA Investment Managers, AXA Abundance and AXA PPP Healthcare. AXA PPP Healthcare was created if AXA bought Guardian Royal Exchange (GRE), admitting it after awash the added locations of GRE to Aegon. The aggregation aswell owns the online insurer Swiftcover, administration business Bluefin and armamentarium administrator Architas. In January 2007 AXA was reorganised into "strategic business units" (SBU's) aimed at aggressive aural their specific markets.
In September 2013, AXA Abundance was fined £1.8m by the FCA for declining to ensure it gave acceptable investment admonition to its customers. The regulator says it begin “serious defects” in the way AXA admiral in Clydesdale Bank, Yorkshire Bank and the West Bromwich Building Society brash barter on investments.
AXA run its investment annex through AXA Investment Managers (IM).
AXA Sun Life was created afterward the alliance amid AXA Equity & Law and Sun Life Assurance Society PLC. In 2006 Winterthur Life in the UK was captivated although AXA abide to use the Winterthur cast for high-net-worth abundance administration business.
In Mexico, as a cultural bequest for the aggregation and the country, started la coleccion AXA, directed by art babysitter Patricia Martín. The accumulating chip pieces from artisan like Hector Zamora, Luis Felipe Ortega, Pedro Reyes, Stefan Brüggemann, Mario García Torres, Abraham Cruzvillegas, Damian Ortega and Carlos Amorales.
Besides its aesthetic and amusing altruistic initiatives (AXA Heart in action), AXA created the AXA Analysis Fund in 2008. Endowed with €100 million, it provides abutment for analysis focused on compassionate and preventing the risks aggressive the environment, animal activity and our societies.
256 basic-research projects were adjourned aural three years, including 230 adolescent researchers, PhDs or in postdoctoral year, alive in laboratories all about the world. In accession to this support, AXA gathers every year the adolescent advisers to accommodated a world-class researcher, barter best practices and network, aloft any apprenticeship or discipline.
The Fund has aswell awarded 11 endowments for several actor euros acknowledging analysis institutions of arete (HEC Paris, NUS, University of Bristol, LSE, MetOffice, INSERM, IHES...). These Analysis and Apprenticeship Chairs intend to allure the best scientists. For example, the AXA - Polytechnique Chair in Cellular Cardiovascular Engineering,[28] captivated by Abdul Barakat, aims to advance analysis on cardiovascular diseases, but aswell to alternation and advance adolescent advisers through continued educational programs.
The 256 analysis projects adjourned as of today are implemented in 22 countries with advisers of 42 altered nationalities. The Scientific Board is chaired by Ezra Suleiman and composed of eminent associates of the bookish apple and AXA Group assembly Pascale Cossart, Brian Hoskins, José Scheinkman, affiliate of the Scientific Board and James Vaupel.