History

Highlights of 2009

AXA announced the strengthening of its position in Central and Eastern Europe with the acquisition of minority interests held by the European Bank for Reconstruction and Development (EBRD) in AXA's Hungarian, Czech and Polish subsidiaries, and a transaction, currently under negotiation, pursuant to which AXA would acquire 100% of AXA Asia-Pacifi c Holding's (AXA APH) Asian businesses while an Australian partner would acquire 100% of AXA APH's Australia and New Zealand businesses.

In addition, AXA announced that it intends to submit to the General Shareholders' Meeting on April 29, 2010 a proposed change in its corporate governance structure from a dual board structure (Supervisory Board and Management Boad) to an unitary board structure (Board of Directors) and will implement a new organization to support a new stage in its development with M. François Pierson, Chairman and Chief Executive Officer of AXA France and member of AXA's Management Board, and M. Christopher Condron, Chief Executive Offi cer of AXA Financial, Inc. (United States) and member of AXA's Management Board, assuming Group-wide responsibility on an international level for Property & Casualty insurance, and Life & Savings and Health businesses, respectively, in addition to their current operational responsibilities.

Highlights of 2008

AXA pursues successfully its external growth strategy: consolidation of AXA existing activities, with the acquisition of Oyak's 50% stake in AXA Oyak, 2^nd Turkish insurer, for 525 million dollars, and penetration of high growth potential markets, with the acquisition of 100% of the 3^rd Mexican insurer, ING Seguros (for an amount of 1.5 billion dollars).