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The group was then well established in Europe but had no presence in U. A, the largest market in the world. It was in that the French insurer set foot there by acquiring a majority stake in American The Equitable, just after its demutualization.
This occurred after the failure of AXA to buy Farmers in Their goal was to submit a recovery plan identical to that achieved with The Equitable. An agreement was reached. It allowed AXA to recapitalize the company and take its reins.
The year stands as a major turning point for the group AXA which launched a takeover bid of UAP, the first French insurance company, whose turnover is twice as important. An exchange offer was signed, making AXA the number one insurer in France and worldwide.
This position will nevertheless return a year later to Allianz which purchased AGF. The takeover of UAP allowed it to consolidate its presence in other countries. In the group entered Morocco with the acquisition of Al Amane. He then became chairman of the supervisory board. The consolidation of the group's positions in this market was, nonetheless, pursued with further acquisitions including that of the Mutual of New York in Switzerland remained a prime target with the acquisition of Winterthur in and Nationale Suisse Assurance in The group announced in early June its withdrawal from the Canadian market with the sale of its subsidiary company AXA Canada to Intact Financial for 2.
The remaining turnover is split between asset management, banking and other insurance operations. Operating results amounted to 3. The capitalization of the company was at the end of up to BNP-Paribas owns 5. Employees, all shareholders, hold 6. FR EN. Create an account Login. Last update: November 11, 17h AXA group: history and growth.
The group AXA has been established by way of merging several insurance companies the oldest of which dates back to Yet, it was not until the s that the brand was affirmed. At that time, Theodore Jacques le Carpentier along with 17 other shareholders, established a mutual insurance company headquartered in Rouen.
AXA would inherit both features until Popular Link. Most Read. Life Insurance. Customer Service. About Us. Claim Center. Careers For Employees Become an Agent. Contact Us.
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