AXA

Corporate brand

A French multinational insurance group focused on life, health, property and casualty insurance, with additional expertise in protection, assistance and long-term savings.

Last updated October 24, 2026

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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 transaction completeden.wikipedia.org
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]Axaen.wikipedia.org
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 enters into an exclusive negotiation to sell AXA Investment Managers to BNP Paribasaxa.com
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]Axaen.wikipedia.org
AXA announced the purchase of Irish health insurer Laya Healthcare for approximately €650 million.
2021
Gulf-region holdings transferred to GIG
[1]Axaen.wikipedia.org
Gulf Insurance Group acquired AXA's Gulf-region holdings and rebranded the businesses under the GIG identity.
2019
AXA Bank Belgium sold
[1]Axaen.wikipedia.org
AXA sold AXA Bank Belgium to Crelan for approximately €620 million.
2018
XL Group acquired
[1]Axaen.wikipedia.org
AXA acquired XL Group for approximately $15.3 billion, creating the AXA XL commercial-insurance and reinsurance platform.
2016
Tobacco-investment exclusion announced
[1]Axaen.wikipedia.org
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]Axaen.wikipedia.org
AXA launched a €100 million insurtech incubator focused on insurance, healthcare and assistance ventures.
2011
AXA Canada sold to Intact Financial
[1]Axaen.wikipedia.org
AXA exited its Canadian operating business through a sale to Intact Financial for approximately C$2.6 billion.
2006
Winterthur Group acquired
[1]Axaen.wikipedia.org
AXA acquired Winterthur Group from Credit Suisse for approximately €9 billion, adding scale in European insurance.
1999
Guardian Royal Exchange acquired
[1]Axaen.wikipedia.org
The transaction expanded AXA's insurance activities in the United Kingdom, Ireland and related international markets.
1996
Acquisition of UAP
[1]Axaen.wikipedia.org
AXA acquired Union des Assurances de Paris, strengthening its position as a leading French insurer.
1991
Acquisition of The Equitable
[1]Axaen.wikipedia.org
AXA acquired The Equitable in the United States, establishing a major North American life-insurance and retirement presence.
1986
Adoption of the AXA identity
[1]Axaen.wikipedia.org
The AXA name replaced the previous Mutuelles Unies/Drouot identity as the group pursued international expansion.
1985
AXA name selected
[1]Axaen.wikipedia.org
The group selected AXA as a short, internationally pronounceable name; the name was adopted corporately in the following year.
1982
Merger with the Drouot Group
[1]Axaen.wikipedia.org
Mutuelles Unies merged with Drouot Group to form Mutuelles Unies/Drouot.
1978
Acquisition of Compagnie Parisienne de Garantie
[1]Axaen.wikipedia.org
The acquisition expanded the group's French insurance base and was followed by the adoption of the Mutuelles Unies name.
1816
Creation of Ancienne Mutuelle
[1]Axaen.wikipedia.org
Mutuelle de l'Assurance contre l'Incendie, later known as Ancienne Mutuelle, was established in France and became the historical predecessor of AXA.

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.
Source
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.
Source
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.
Source
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.
Source

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.
Source

Brand decisions

2025
Acquire a majority stake in Prima AssicurazioniM&A
Background
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)
Source
2024
Exit asset management and focus on insuranceStrategy
Background
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)
Source
2023
Acquire Laya HealthcareM&A
Background
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)
Source
2018
Acquire XL GroupM&A
Background
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)
Source
2016
Exclude tobacco investmentsStrategy
Background
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.
Source

Recent events

2026
AXA shareholders renew Thomas Buberl as chief executive[4]AXA announces the results of its 2026 Shareholders' Meetingaxa.com
Leadership change
At the April 30, 2026 shareholders' meeting, shareholders renewed Thomas Buberl's board mandate and the board reappointed him as chief executive officer for a further term.
2025
AXA completes strategic exit from asset management subsidiary[8]AXA Investment Managers transaction completeden.wikipedia.org
M&A
The planned transfer of AXA Investment Managers to BNP Paribas was completed in 2025, with the asset-management activities subsequently integrated into BNP Paribas Asset Management.
2025
AXA announces majority investment in Prima Assicurazioni[1]Axaen.wikipedia.org
M&A
AXA announced an agreement to acquire a 51 percent stake in Italian direct insurer Prima Assicurazioni for approximately €500 million.
2024
AXA announces sale of AXA Investment Managers to BNP Paribas[5]AXA enters into an exclusive negotiation to sell AXA Investment Managers to BNP Paribasaxa.com
M&A
AXA announced an agreement to sell AXA Investment Managers to BNP Paribas for total consideration estimated at €5.4 billion, together with a long-term investment-management partnership.
2023
AXA announces acquisition of Laya Healthcare[1]Axaen.wikipedia.org
M&A
AXA announced the acquisition of Irish health insurer Laya Healthcare for approximately €650 million, strengthening its European health-insurance business.
2019
AXA sells AXA Bank Belgium to Crelan[1]Axaen.wikipedia.org
M&A
AXA sold AXA Bank Belgium to Belgian financial group Crelan for approximately €620 million as part of its portfolio simplification.
2018
AXA acquires XL Group[1]Axaen.wikipedia.org
M&A
AXA completed the acquisition of XL Group for approximately $15.3 billion, creating a major global commercial property-and-casualty and reinsurance platform.
2011
AXA Canada sold to Intact Financial[1]Axaen.wikipedia.org
M&A
AXA agreed to sell its Canadian operations to Intact Financial for approximately C$2.6 billion, exiting direct Canadian insurance operations.

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