Īxa Group global locations Operations United Kingdom Īxa trades in the United Kingdom as Axa UK, with subsidiaries including Axa Insurance, Axa Wealth and Axa Health.
Initially, "Elan" was the top choice, but Canadian executives balked because "elan" is the French word for a moose or elk. Bébéar wanted a short and snappy name to convey vitality and could be pronounced the same way in every language, consistent with the group's desire for an international presence. After acquiring the Drouot Group in 1982, chairman and CEO Claude Bébéar hired an outside consultant to conduct a computer-aided search for a new name. The Axa name ĭespite being written by the company in upper case, "AXA" is not an acronym, but was chosen because its name can be pronounced easily by people who speak any language. In October 2019, the company sold Axa Bank Belgium to Crelan for €620 million (US$688.51 million). On 12 September 2018 Axa acquired XL Group Ltd, a Bermuda-based property and casualty commercial lines insurer and reinsurer, for $15.3 billion. In May 2016, the firm announced that it would stop investing in tobacco shares and bonds and allow its portfolio of tobacco-related bonds to run off. As of 2011, Axa was the second most powerful transnational corporation in terms of corporate control over global financial stability. On 14 June 2006, Axa acquired Winterthur Group from Credit Suisse for approximately €9 billion. In May 2000, it acquired all shares it did not already own in Sun Life & Provincial Holdings. In February 1999, Axa acquired Guardian Royal Exchange.
Axa took over The Equitable in 1991 and bought Union des Assurances De Paris (UAP), France's largest insurer, in 1996 to become Axa-UAP.
In 1982, it merged with the Drouot Group, owned by the Hottinguer family, becoming Mutuelles Unies/Drouot. It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies. The company was founded in 1816 as Mutuelle de L'assurance contre L'incendie (the Ancienne Mutuelle).
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