Traditional Business – Concentrating on policies which are still in force but no longer actively marketed.Protection – This business aims to market Axa's Protection Account as Axa continues to build on its presence in this area with the intention of becoming a leading protection provider.Axa intends to create a market-leading group pension proposition using Winterthur's 'Embassy' IT platform. Corporate Business – Axa and Winterthur's group pensions.Axa Wealth – This includes Axa and Winterthur's bonds and individual pensions, Axa Distribution Services who offer the Elevate wrap platform and Architas.In 2006 Winterthur Life in the UK was absorbed although Axa continues to use the Winterthur brand for high-net-worth wealth management business. In 2020, the partnership was cemented further in 2020, when they purchased the naming rights to the club's newly-built training centre, which became officially known as 'The AXA Training Centre.' Axa Sun Life Īxa Sun Life was created following the merger between Axa Equity & Law and Sun Life Assurance Society. and in 2019, began sponsoring the training kits of the team. In 2018, they became the 'Official Global Insurance' partner of Premier League team Liverpool F.C. 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. 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. In January 2007 Axa was reorganised into "strategic business units" aimed at competing within their specific markets. The company also owns the online insurer Swiftcover and fund manager Architas. Axa PPP Healthcare was created when Axa bought Guardian Royal Exchange (GRE), though it subsequently sold the other parts of GRE to Aegon. Italian Headquarters in Milan Operations United Kingdom Īxa trades in the United Kingdom as Axa UK, with subsidiaries including Axa Insurance, Axa Wealth and Axa Health. Initially, "Elan" was the top choice, but Canadian executives balked because "elan" is the French word for a moose or elk. 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. 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. The Axa name ĭespite being written by the company in upper case, "AXA" is not an acronym, but was chosen because its name can be pronounced easily by people who speak any language. In October 2019, the company sold Axa Bank Belgium to Crelan for €620 million (US$688.51 million). On 12 September 2018 Axa acquired XL Group Ltd, a Bermuda-based property and casualty commercial lines insurer and reinsurer, for $15.3 billion. 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. As of 2011, Axa was the second most powerful transnational corporation in terms of corporate control over global financial stability. On 14 June 2006, Axa acquired Winterthur Group from Credit Suisse for approximately €9 billion. In May 2000, it acquired all shares it did not already own in Sun Life & Provincial Holdings. In February 1999, Axa acquired Guardian Royal Exchange. Axa took over The Equitable in 1991 and bought Union des Assurances De Paris (UAP), France's largest insurer, in 1996 to become Axa-UAP. In 1982, it merged with the Drouot Group, owned by the Hottinguer family, becoming Mutuelles Unies/Drouot. It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies. The company was founded in 1816 as Mutuelle de L'assurance contre L'incendie (the Ancienne Mutuelle).