A French multinational insurance group focused on life, health, property and casualty insurance, with additional expertise in protection, assistance and long-term savings.
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Overview
AXA is a French multinational insurance group whose principal activities are the design, distribution and servicing of insurance and protection products. Its business spans life and savings, health, property and casualty insurance, commercial risk, reinsurance, assistance and selected financial services. The group serves individuals, families, small and medium-sized businesses, large corporations, institutions and public-sector organizations through a mixture of agents, brokers, bancassurance arrangements, direct digital channels and employee-benefit distribution. The modern AXA group grew out of a series of French mutual and commercial insurance businesses. Its oldest predecessor was founded in 1816 as Mutuelle de l'Assurance contre l'Incendie, commonly known as Ancienne Mutuelle. Through acquisitions and mergers, the organization expanded from a regional French insurer into a diversified financial-services group. It acquired Compagnie Parisienne de Garantie in 1978, merged with the Drouot Group in 1982 and became Mutuelles Unies/Drouot. The AXA name was selected in the mid-1980s as part of a deliberate internationalization strategy. It was designed to be short, distinctive and pronounceable across languages rather than to function as an acronym. Expansion accelerated during the 1990s and 2000s. AXA acquired The Equitable in the United States in 1991, purchased Union des Assurances de Paris in 1996 and bought Guardian Royal Exchange in 1999. It subsequently completed the acquisition of Sun Life & Provincial Holdings and acquired Winterthur Group from Credit Suisse in 2006. These transactions strengthened the group's presence in life insurance, general insurance, wealth management and international markets. The 2018 acquisition of XL Group added a major commercial property-and-casualty and reinsurance platform, which became AXA XL. AXA has also reshaped its portfolio through disposals. It sold its Canadian operations to Intact Financial in 2011, exited or reduced several banking and regional holdings, sold its Gulf businesses to Gulf Insurance Group in 2021 and divested its Singapore insurance business to HSBC. In 2024 AXA announced an agreement to sell AXA Investment Managers to BNP Paribas, reflecting a strategy to simplify the group and concentrate on insurance. The transaction was completed in 2025, after which AXA retained a long-term investment-management relationship with BNP Paribas while continuing to control insurance-related product design, asset allocation and asset-liability decisions. AXA's current strategic emphasis is on profitable growth in life and savings, property and casualty, and health. The group combines underwriting with prevention, claims management, assistance and risk advisory services. Through AXA XL, it covers complex commercial risks such as cyber, marine, aviation, construction, energy, political risk and specialty liability. Through local operating companies, it provides motor, home, travel, private medical, life, retirement and employee-benefit products. The group has also invested in digital insurance and healthcare ventures, including the Kamet insurtech incubator. The AXA brand is associated with financial protection, risk expertise, global scale and long-term customer relationships. Its public profile has also been shaped by sustainability and responsible-investment policies, including a 2016 decision to stop investing in tobacco companies and later scrutiny of investments connected with Israel and the Israeli defense sector. AXA continues to operate as an active global insurance group headquartered in Paris, with Thomas Buberl as chief executive officer and Antoine Gosset-Grainville as chairman of the board as of 2026.
History
AXA's history begins in 1816 with the creation of Mutuelle de l'Assurance contre l'Incendie, a French mutual insurer established to provide protection against fire losses. The business, later known as Ancienne Mutuelle, represents the institutional origin of the modern group, although the AXA name and corporate identity came much later. The organization expanded through a succession of mergers and acquisitions. In 1978 it acquired Compagnie Parisienne de Garantie and adopted the name Mutuelles Unies. Four years later it merged with the Drouot Group, an insurer associated with the Hottinguer family, becoming Mutuelles Unies/Drouot. The combination gave the group a broader French platform and provided the foundation for a more ambitious international strategy. During the 1980s, chairman and chief executive Claude Bébéar pursued a distinctive corporate repositioning. After the Drouot transaction, the group commissioned an external consultant to search for a short, internationally usable name. The selected name, AXA, was not intended as an acronym. It was chosen for its brevity, visual distinctiveness and ease of pronunciation in different languages. The name began to replace the former corporate identity in 1985–1986, signaling the group's intention to compete beyond France. The first major phase of international expansion centered on North America and Europe. AXA acquired The Equitable in the United States in 1991, obtaining a significant life-insurance and retirement platform. In 1996 it purchased Union des Assurances de Paris, then France's largest insurer, and temporarily operated under the AXA-UAP name before returning to AXA in 1999. The group also acquired Guardian Royal Exchange in 1999 and completed the purchase of the shares it did not already own in Sun Life & Provincial Holdings in 2000. These deals expanded AXA's reach across the United Kingdom, Ireland and other markets while adding life, health, general insurance and wealth-management capabilities. In 2006 AXA acquired Winterthur Group from Credit Suisse for approximately €9 billion. Winterthur strengthened AXA's European insurance footprint and added operations across several countries. The group continued to develop asset management as a complementary activity, serving institutional and retail investors while also managing assets connected with AXA's insurance balance sheet. AXA's portfolio subsequently became more specialized. In 2016 it created Kamet Ventures, an insurtech incubator funded initially with €100 million, to develop businesses in insurance, healthcare and assistance. The same year the group announced a policy of ending new investments in tobacco shares and bonds, allowing existing tobacco-related bond positions to mature. The move became part of AXA's wider responsible-investment and sustainability positioning. The 2018 acquisition of XL Group was one of the group's most consequential transactions in the modern era. XL brought commercial property-and-casualty insurance, specialty lines and reinsurance, and was subsequently incorporated into the AXA XL platform. AXA XL broadened the group's ability to serve multinational corporations and cover complex risks such as cyber, energy, construction, marine, aviation, political violence and professional liability. AXA also pursued divestments and regional restructuring. It sold AXA Canada to Intact Financial in 2011. In 2019 it sold AXA Bank Belgium to Crelan and reduced certain investments associated with Israeli defense and banking companies after pressure from nongovernmental organizations and ethical-investment campaigners. AXA's investment links to Israel continued to attract scrutiny, with advocacy groups reporting later changes in its holdings and divestment position. These matters became part of the public debate over the group's investment policies rather than its core insurance operations. The 2020s brought a sharper focus on insurance. AXA sold or separated a number of non-core or regional holdings, including its Gulf-region businesses, which were acquired by Gulf Insurance Group in 2021. It also sold its Singapore insurance operations to HSBC. In 2024 AXA announced an agreement to sell AXA Investment Managers to BNP Paribas for estimated total consideration of €5.4 billion. The transaction was designed to simplify AXA's business model and concentrate resources on life and savings, property and casualty, and health insurance. Completion took place in 2025, followed by the integration of AXA IM activities into BNP Paribas Asset Management. At the same time, AXA continued to expand in selected insurance markets. It announced the acquisition of Laya Healthcare in Ireland in 2023 and agreed in 2025 to acquire a 51 percent stake in Italian direct insurer Prima Assicurazioni. By 2026, AXA remained an active, publicly listed French insurance group with a global footprint, a major commercial-risk platform in AXA XL, and a strategy centered on protection, health, savings, prevention and disciplined capital allocation.
- 2025
AXA Investment Managers transaction completed
[8]AXA Investment Managers transferred to BNP Paribas and its activities were subsequently integrated into BNP Paribas Asset Management.
- 2025
Prima Assicurazioni majority stake announced
[1]AXA agreed to acquire a 51 percent majority stake in Italian direct insurer Prima Assicurazioni for approximately €500 million.
- 2024
AXA Investment Managers sale agreed
[5]AXA entered into an agreement to sell AXA Investment Managers to BNP Paribas and focus more narrowly on insurance.
- 2023
Laya Healthcare acquisition announced
[1]AXA announced the purchase of Irish health insurer Laya Healthcare for approximately €650 million.
- 2021
Gulf-region holdings transferred to GIG
[1]Gulf Insurance Group acquired AXA's Gulf-region holdings and rebranded the businesses under the GIG identity.
- 2019
AXA Bank Belgium sold
[1]AXA sold AXA Bank Belgium to Crelan for approximately €620 million.
- 2018
XL Group acquired
[1]AXA acquired XL Group for approximately $15.3 billion, creating the AXA XL commercial-insurance and reinsurance platform.
- 2016
Tobacco-investment exclusion announced
[1]AXA announced that it would stop investing in tobacco shares and bonds and allow existing tobacco-related bond positions to run off.
- 2016
Kamet Ventures created
[1]AXA launched a €100 million insurtech incubator focused on insurance, healthcare and assistance ventures.
- 2011
AXA Canada sold to Intact Financial
[1]AXA exited its Canadian operating business through a sale to Intact Financial for approximately C$2.6 billion.
Products and positioning
A globally diversified insurer positioned around protection, prevention, health, long-term savings and complex commercial risk. AXA combines local distribution with multinational underwriting, claims and risk-management capabilities.
Insurance and long-term savings
Life and savings
AXA's life and savings business includes life protection, retirement products, investment-linked policies and other long-term savings solutions. These products are distributed through local insurance companies, advisers, brokers, banks and digital channels, and are designed to combine protection with wealth accumulation or retirement planning.
Health insurance
Health insurance
AXA provides private medical insurance, employee health benefits, international health coverage and related healthcare services. Its operations include AXA Health in the United Kingdom, regional health businesses and assistance capabilities that support medical advice, treatment coordination and claims services.
General insurance
Property and casualty insurance
The property and casualty portfolio covers motor, home, property, liability, accident and other general-insurance risks for individuals and businesses. Products are adapted to local markets and may be distributed through agents, brokers, bancassurance partners and direct digital channels.
Commercial insurance and reinsurance · 2018
AXA XL
AXA XL is AXA's platform for complex commercial property-and-casualty insurance, specialty risks and reinsurance. Its lines include cyber, construction, energy, marine, aviation, environmental liability, political risk, professional liability and other risks requiring specialized underwriting and global claims expertise.
Assistance and embedded insurance
AXA Partners
AXA Partners provides assistance, travel insurance, protection services and third-party administration for customers and distribution partners. Its services support travel, mobility, health, home and other protection needs, often through partnerships with banks, retailers, manufacturers and other brands.
Asset management · 1994
AXA Investment Managers
AXA Investment Managers was AXA's asset-management arm, serving institutional and retail clients with public and private-market investment capabilities. AXA agreed to sell the business to BNP Paribas in 2024; the transaction was completed in 2025 and the activities were integrated into BNP Paribas Asset Management.
Insurtech venture building · 2016
Kamet Ventures
Kamet Ventures was created by AXA as an insurtech incubator focused on developing technology-enabled businesses in insurance, healthcare and assistance. Its portfolio included ventures working on insurance advice, elderly care and other digital services.
Controversies
2020
Genworth and AXA reach settlement over PPI mis-selling losses
Genworth Financial said it reached a settlement agreement with AXA over liability for payment protection insurance mis-selling losses. Genworth agreed to pay AXA £100 million by July 23, 2020, in addition to an interim payment, and to issue a secured promissory note for deferred payments totaling about £317 million. The settlement followed a High Court ruling that Genworth was obligated to pay AXA for its losses under the sale and purchase agreement.
2018
Criticism over investments linked to Israel and Elbit Systems
AXA faced sustained pressure from nongovernmental organizations and boycott campaigners over investments associated with Elbit Systems and Israeli banks. AXA reduced some direct exposure, although campaigners continued to debate indirect holdings and the scope of the divestment.
2013
AXA Wealth investment-advice enforcement action
The UK Financial Conduct Authority fined AXA Wealth £1.8 million after finding serious defects in the way advisers operating through several banking and building-society channels assessed the suitability of investment advice.
2009
Swiftcover advertising ruled misleading
A Swiftcover television advertisement featuring Iggy Pop was banned after the advertising regulator determined that the presentation could mislead consumers because the performer would not have been eligible for the insurance policy under its occupational exclusions.
Marketing campaigns
- 2018Liverpool Football Club partnership
United Kingdom · International
AXA became Liverpool Football Club's official global insurance partner in 2018. The relationship expanded in 2019 through training-kit sponsorship and in 2020 through naming rights for the club's training facility, which became the AXA Training Centre.
Outcome. The partnership gave AXA sustained international visibility and connected the brand with sport, performance, health and team resilience.
Brand decisions
2025
Acquire a majority stake in Prima AssicurazioniM&ABackground
AXA pursued a technology-oriented direct-insurance platform in Italy with potential for digital distribution and data-enabled underwriting.
Action taken
AXA agreed to acquire a 51 percent majority stake in Prima Assicurazioni for approximately €500 million, with arrangements concerning the remaining shares expected to be addressed through later options.
Aftermath
The transaction strengthened AXA's exposure to Italian direct insurance and digital distribution.
Acquisition consideration. approximately €500 million (Announced and completed in 2025)
2024
Exit asset management and focus on insuranceStrategyBackground
AXA concluded that a simpler business profile centered on insurance would better support its strategic objectives while allowing customers to retain access to investment-management capabilities through a partnership.
Action taken
AXA agreed to sell AXA Investment Managers to BNP Paribas for estimated total consideration of €5.4 billion and entered into a long-term investment-management partnership with BNP Paribas.
Aftermath
The sale was completed in 2025. AXA retained authority over insurance product design, asset allocation and asset-liability management while reducing its direct exposure to standalone asset management.
Estimated total transaction consideration. €5.4 billion (Announced August 1, 2024; transaction completed in 2025)
2023
Acquire Laya HealthcareM&ABackground
AXA sought to strengthen its health-insurance position in Ireland and broaden its European health platform.
Action taken
AXA announced the acquisition of Cork-based health insurer Laya Healthcare for approximately €650 million.
Aftermath
The transaction expanded AXA's Irish health-insurance presence and reinforced health as a strategic growth area.
Acquisition consideration. approximately €650 million (Announced August 2023)
2018
Acquire XL GroupM&ABackground
AXA sought greater scale in commercial property-and-casualty insurance, specialty lines and reinsurance, areas with complex risks and multinational clients.
Action taken
AXA acquired XL Group for approximately $15.3 billion and developed the AXA XL platform around commercial insurance and reinsurance.
Aftermath
The transaction materially increased AXA's exposure to corporate risk, specialty underwriting and reinsurance.
Acquisition consideration. approximately $15.3 billion (2018 transaction)
2016
Exclude tobacco investmentsStrategyBackground
AXA framed tobacco as inconsistent with its risk, health and sustainability principles and responded to wider scrutiny of institutional investment in the tobacco industry.
Action taken
The group announced that it would stop investing in tobacco shares and bonds and allow existing tobacco-related bond investments to mature rather than reinvesting them.
Aftermath
The decision became a visible part of AXA's responsible-investment positioning and was later accompanied by additional sustainability and exclusion policies.
Recent events
- Unconfirmed
Reported
AXA enters Ireland’s life insurance market[10]
AXA entered the Irish life insurance market, with its Dublin-based subsidiary underwriting term life insurance and mortgage protection sold through Laya Life.
Reported
Greencoat UK Wind arranges £200 million debt facility[11]
Greencoat UK Wind said it arranged a new eight-year £200 million debt facility from AXA, which it planned to use to repay its revolving credit facility and continue to pursue opportunities in the UK wind farm market.
- Unconfirmed
Reported
AXA completes sale of Gulf insurance shareholdings[12]
AXA completed the sale of its 50% shareholding in AXA Gulf and its 34% shareholding in AXA Cooperative Insurance Company in Saudi Arabia to Gulf Insurance Group for $264 million.
AXA launches free post-vaccination protection programme[13]
AXA Hong Kong and Macau launched a free programme offering eligible customers additional hospital cash benefits for adverse events following COVID-19 immunisation in Hong Kong or Macau. The programme was offered from 1 April to 30 June 2021.
Reported
Korean Re sues AXA and Allianz in the UK[14]
Korean Re filed lawsuits against AXA and Allianz at a UK court, seeking a total of $12.4 million under reinsurance contracts. Korean Re claimed that the insurers breached contracts made in 2019.
Reported
AXA, Beijing Life and Yinsu Health launch Beijing Jinghuibao[15]
AXA, Beijing Life and Yinsu Health formally launched Beijing Jinghuibao, a supplementary commercial medical insurance product for Beijing residents enrolled in basic medical insurance, with coverage underwritten in part by AXA Tianping.
Reported
Genworth and AXA reach settlement over PPI mis-selling losses[9]
Genworth Financial said it reached a settlement agreement with AXA over liability for payment protection insurance mis-selling losses. Genworth agreed to pay AXA £100 million by July 23, 2020, in addition to an interim payment, and to issue a secured promissory note for deferred payments totaling about £317 million. The settlement followed a High Court ruling that Genworth was obligated to pay AXA for its losses under the sale and purchase agreement.
- Unconfirmed
Reported
Axa launches BetterMe wellbeing platform in Hong Kong[16]
Axa launched its Axa BetterMe wellness platform in Hong Kong, offering physical and mental wellbeing and chronic disease management programmes and services through the Emma by Axa app.
Reported
AXA offers SmartPlan clients an extra month of complimentary coverage[17]
AXA announced that new and existing AXA SmartPlan clients would receive an additional month of complimentary insurance coverage on annual policies upon renewal or new enrolment during the stated offer period.
Reported
AXA launches employee mental-health guide with Columbia University WHO Center[18]
AXA launched a free resource to guide companies in safeguarding employees’ mental health as they return to work amid the easing of the COVID-19 pandemic in the region. The guide was co-authored with Columbia University WHO Center for Global Mental Health.
Sources28 sources
- 1Axaen.wikipedia.org
- 2AXA Executive Managementaxa.com
- 3AXA Board of Directorsaxa.com
- 4AXA announces the results of its 2026 Shareholders' Meetingaxa.com
- 5AXA enters into an exclusive negotiation to sell AXA Investment Managers to BNP Paribasaxa.com
- 6AXA 2024 Annual Reportaxa.com
- 7AXA 2025 Integrated Reportaxa.com
- 8AXA Investment Managers transaction completeden.wikipedia.org
- 9Genworth and AXA reach settlement over PPI mis-selling lossesfinanznachrichten.de
- 10AXA进入爱尔兰人寿保险市场rte.ie
- 11Greencoat UK Wind安排2亿英镑债务融资themarketreporter.co.uk
- 12AXA完成海湾地区保险股权出售international-adviser.com
- 13AXA推出免费疫苗接种后保障计划vietnamnews.vn
- 14Korean Re在英国起诉AXA和Allianzkoreatimes.co.kr
- 15AXA、北京人寿与因数健康推出“北京京惠保”prnasia.com
- 16安盛在香港推出BetterMe健康平台international-adviser.com
- 17AXA 为 SmartPlan 客户提供额外一个月的免费保障sbr.com.sg
- 18AXA与哥伦比亚大学世卫组织全球心理健康中心推出员工心理健康指南prnewswire.com
- 19AXA 与 Democrance 合作推动普惠保险international-adviser.com
- 20雅高与安盛宣布为酒店宾客提供医疗支持的合作businesstraveller.com
- 21AXA同意将中东欧业务出售给Uniqainternational-adviser.com
- 22AXA在香港推出Mind Health计划insurancebusinessmag.com
- 23安盛集团完成收购安盛天平剩余50%股权finance.sina.com.cn
- 24安盛集团完成收购安盛天平剩余50%股权finance.sina.com.cn
- 25安盛集团46亿收购安盛天平剩余50%股权 中国最大外资独资财险公司“诞生”finance.sina.com.cn
- 26安盛集团46亿收购安盛天平剩余50%股权 中国最大外资独资财险公司“诞生”_保险动态_保险_中金在线insurance.cnfol.com
- 27Accor teams up with AXA to offer medical support for guests - The Korea Timeskoreatimes.co.kr
- 28Axa sells some European business to Austria-based groupbusinessinsurance.com
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