The AXA group is headquartered in Paris and is a holding company that provides financial protection, insurance and asset management services.
The company was founded in 1817 which means it is getting into its 200th year of existence & they have approximately 103 million clients in 59 nations across the world. The group has five business segments namely property and casualty, life and savings, international insurance, asset management, and banking.
Property and casualty segment offers a range of products including motor, household property and general liability insurance for both personal and commercial customers and they primarily operates in Western Europe, US and Japan. Life and Savings segment offers products including life and health products and individual and group saving products for both individual and commercial clients. Group’s principal asset management companies such as Alliance Bernstein and AXA investment managers constitutes AXA’s asset management segment. The international insurance segment focuses on risks, reinsurance and assistance.
The banking segment has main operations in Belgium, France and Germany and includes mortgages loans, retail banking and loans. The life and savings segment is the highest contributor to the revenue with a share of nearly 60% of the revenues. France is AXA’s largest geographic market accounting for nearly 27% of the revenues. AXA has strong market position in global financial services markets. The cyclical nature of its businesses like property and casualty insurance business affects the operations and financial condition. Weak macroeconomic conditions have had a negative effect on the business of the group in last few years. In last five years, the company has made several strategic acquisitions to push itself back into high growth trajectory.