Profile: Axa SA (AXAHY.PK)
Axa SA (AXA), incorporated on June 21, 1957, is a holding company engaged in the business of financial protection, insurance and asset management. The Company operates in five segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. The Company offers a range of Life and Savings products including individual and group savings retirement products, life and health products. It comprises traditional term and whole life insurance, immediate annuities and investment products. Property & Casualty segment includes a range of products including mainly motor, property and general liability insurance for both personal and commercial customers. International Insurance segment’s operations include insurance products that notably relate to AXA Corporate Solutions Assurance. Banking segment includes banking conducted primarily in France, Belgium and Germany. Holding companies segment also includes some investment vehicles and special-purpose entities (SPE).
Life & Savings segment
AXA offers a range of Life & Savings products including Individual and Group savings products, as well as Life and Health products for both individual and commercial clients. AXA’s Life & Savings products include a range of Investment and Savings products, as well as Protection and Health products marketed to individual and commercial clients. The Life & Savings products offered by AXA include Term life, Whole life, Universal life, endowment, deferred annuities, immediate annuities, and other investment-based products. The Health products offered include critical illness and permanent health insurance products. The types and specificities of the products offered by AXA vary from market to market.
Property & Casualty segment
AXA’s Property & Casualty Segment offers a range of products, including motor, household property and general liability insurance for both Personal and Commercial customers targeting mainly small to medium sized companies. In the Property & Casualty segment, AXA operates in the Western European markets. AXA also offers Personal and Commercial Property & Casualty insurance products in other countries in Central and Eastern Europe, as well as in Asia (notably Singapore, Malaysia, Hong Kong, China and Thailand), the Middle East and Latin America (Mexico). In addition, AXA operates in direct insurance mainly in the United Kingdom, France, South Korea, Japan and Spain.
AXA’s Property & Casualty insurance operations offer a range of products, including motor, household, property and general liability insurance for both Personal and Commercial customers (targeting mainly small to medium sized companies) and, in certain countries, Health products. AXA distributes its Property & Casualty insurance products through a number of channels that vary from country to country, including exclusive agents, brokers, salaried sales forces, direct sales, banks and other partnerships, including car dealers. In Continental Europe, the same distribution channels may be used by both AXA’s Life & Savings and Property & Casualty operations.
International Insurance Segment
The Company’s Operations in International Insurance Segment is principally focused on large risks, reinsurance and assistance. AXA Corporate Solutions Assurance mainly distributes its products through international brokers, but also domestic brokers. Marine and aviation business is distributed through specialized brokers. AXA Assistance mainly operates as a business-to-business company although it also uses direct sales and marketing to sells its products. In countries in which AXA offers Property & Casualty insurance products such as France, Switzerland, Mediterranean and Latin American Region, Belgium, the United Kingdom and Germany, AXA distribution networks offer assistance services among their portfolio of insurance products.
The operations in the Banking segment are conducted primarily in Belgium, France and Germany. AXA Bank products and services in Belgium are mainly distributed by a network of 848 independent bank agents. The bank’s products and offers are linked with insurance business and are primarily focused on retail products. AXA Banque also manages direct clients through Internet banking relationships. AXA Bank targets private customers in retail banking and is an important element of pension and asset management business of AXA Germany.
Asset management Segment
AXA’s principal Asset management companies are AllianceBernstein and AXA Investment Managers. AllianceBernstein provides diversified investment management and related services to individual investors, private clients and to a variety of institutional clients, including AXA and its insurance company subsidiaries (which collectively are AllianceBernstein’s largest client). AXA Investment Managers provides its clients with a range of global products and expertise principally via Mutual funds and dedicated portfolios. AXA IM’s clients include institutional investors, individual investors to whom Mutual funds are distributed through AXA and external distribution networks, and AXA’s insurance subsidiaries both for main fund and Unit-Linked fund backing insurance products.
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