Know All About AXA
AXA is 203 years old multinational organization of financial services in France. The company is serving worldwide offering products in life, health, property and casualty insurance, and investment management.
In 2018, the company generated a revenue of €102.9 billion and a net income of €2.1 billion. Thomas Buberl is serving as CEO of the company with 125,934 employees.
The group is maintaining its business in North America, the Middle East, Western Europe, and Africa and the Asia Pacific region.
AXA came in the market in 1816
In 1816, with the efforts of Claude Bebear, a company named Mutuelle de L'assurance contre L'incendie got established in France to deal with financial services and investments.
Further with various acquisitions of companies like Compagnie Parisienne de Garantie, the Drouot Group and The Equitable it got renamed as AXA in 1999.
AXA then acquired Guardian Royal Exchange, Sun Life & Provincial Holdings, Winterthur Group, and XL Group Ltd. to establish itself as the second most powerful transnational corporation in the market of global finance.
At present, it is headquartered in 25 Avenue Matignon, Paris, France and serves in global locations through its subsidiaries. The company is charted on Euro Stoxx 50 stock market index and is incorporated in New York.
What products do they offer in the market?
AXA is in the market to offer products from life insurance, retirement planning to investment with a focus on exploring the customer's financial goals.
Under life insurance policies, they have term, whole, universal, variable universal and survivorship policies in demand with annuities.
AXA Equitable Life Insurance Company and its subsidiaries issue life insurance and annuities with guarantees on claim paying ability except on investment portfolios.
On investment platform, they offer brokerage and advisory accounts and mutual funds on market risks. For employers, they have benefit packages with flexibility to ensure their future success and savings on a broad spectrum.
Company's financial stats
AXA with $147.5 billion of revenue got placed on the second position among the largest financial services company in the world for the fiscal year 2017.
The company even got named as the #1 insurance brand in the world according to Interbrand annual report of 2017. This position is achieved by the company for its ninth consecutive year in a row.
Talking about its rating by independent financial institutions A.M. Best placed the company at A (VIII) whereas by Standard & Poor's it got AA- on basis of;
• €100BN revenue
• €72.7BN shareholder equity
• €5.7BN underlying earnings and
• €1.059TN assets under management.
Recently, Forbes ranked the company at #33 among the world's 2000 biggest companies of 2018 and Better Business Bureau got its A+ rating on the board.
Is the company trustworthy?
Yes, the company has built up a trust for the past 203 years and is now serving over 107 million customers in 64 countries.
They prefer to work closely through their employees and distributors around the world empowering a better life for today and tomorrow.
They are fully committed to supporting their international and domestic customers to achieve financial goals. By claims expertise, they got 5/5 stars for customer satisfaction.
Why AXA for insurance?
AXA is a French multinational insurance organization rule the world of global finance through its experience and independently-run businesses in different countries. They offer opportunities to explore one's goals and help them envision their future life with proper planning.
They advise you through professionals on life events like marriage, new home, aging parents, disability, death, and new jobs thus preparing for tomorrow.
It is a better choice for the ones who just want to sit and create a long-term financial plan with an advisor.
Is AXA facing a lawsuit?
A lawsuit claiming that AXA charged excessive fees on annuity products was filed by its investors which the company won in 2016.
Two more lawsuits were filed against them in January 2017 for unfair rate increases but there is no further information on its progress.
What's in news?
AXA Equitable Life announced on 1st August 2019 to become a retirement policy provider according to 403(b) and 457(b) retirement plans. They will continue with $12.9 million assets to serve 450 educators.