History of the AXA name

In 1982, Mutuelles Unies acquired the Drouot Group. Within three years, the media had gotten into the habit of referring to the new company as the "Bébéar Group." It was time to find a new corporate name for the Group and fast.

The search for a new name was initially conducted internally. When no compelling suggestions materialized, the support of an outside consultant was enlisted to conduct a computer-aided search. But first, the program had to be given name selection criteria. The task force appointed to discuss the issue decided that the new group needed a short and snappy name that would convey its vitality. Moreover, the name had to begin with an A, to ensure that the group would be at or near the top of all alphabetical lists and directories. Finally, the name had to be pronounced in the same way in every language, consistent with the group's desire for international reach.

Once these parameters had been set, the computer produced a list of names that was then submitted to management. The resulting short list of three namesArgos, AXA and Elanwas then submitted informally to selected employees. Elan emerged as their unanimous favorite. Unfortunately, Canadian management was categorically opposed to this name: Elan means "moose" in French, and Canadian folklore has it that the moose, while a nice enough creature, is possibly the least intelligent four-legged animal to walk the face of the earth. The drawback from a commercial standpoint was clear.

In late spring 1984, AXA was probably the least favorite choice. Some even went as far as to say that it would be better suited for a brand of detergent. But AXA was the only name left on the list by then. Argos had been eliminated because it was already a very popular company name, and besides, some whose opinion was solicited insisted on pronouncing the word with a silent "s, " so that it sounded like "argot, " which is the French word for slang.

No clear majority emerged, and Claude Bébéar made the final decision in July of 1985. AXA became the corporate name for Mutuelles Unies/Drouotthe name that would be used to foster the emergence of a shared identity and culture.

Looking back a few years later, one employee admitted: "Why AXA? The word was meaningless. We were used to names that were more or less tied to insurance. In the name Uni Europe, for example, you find the Uni of Mutuelles Unies. The name "Présence" also has an insurance connotation. (Translator's note: In French, the term for personal protection is "prévoyance.") But AXA? The funny thing is that, today, it is impossible to imagine the Group going by any other name."