This section provides answers to some common queries about the AXA Group.
1. What are the historical origins of the AXA Group?
The AXA Group today is the result of a series of mergers involving French regional mutual insurance companies, known collectively as Les Mutuelles Unies. In 1982, Les Mutuelles Unies took control of Groupe Drouot, and in 1985, the new Group began operating under the name AXA.
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2. What form of corporate governance does AXA have?
AXA has been governed by a Management Board and a Supervisory Board since 1997.
This form of corporate governance, which separates the powers of management from those of supervision, is considered to offer the most balanced framework governing the exercise of power.
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3. In which countries does AXA operate?
AXA operates 55 countries worldwide.
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4. How many employees work for the AXA Group?
The total headcount of AXA Group is 174,935 worldwide including:
- 100,505 salaried non-sales force
- 19,885 salaried sales force
- 54,545 tied agents
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5. What is AXA's business?
AXA's business is Financial Protection
Financial Protection means offering customersindividuals as well as small, mid-sized and large businessesa wide range of products and services that meet their evolving insurance, protection, savings, retirement and estate planning needs.
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6. What are AXA's core values?
Professionalism, Innovation, Pragmatism, Team Spirit, Integrity.
They were chosen by multicultural teams of employees, formed to ensure that the concepts would be meaningful to Group companies operating in different countries around the world.
7. What is Finaxa?
Les Mutuelles Unies (formerly Anciennes Mutuelles, the companies out of which the Group was formed) acquired the Drouot group in 1982. Drouot's holding company, Compagnie Financière Drouot, became the financial holding company of the AXA Group. In 1990, the Group was legally and organizationally restructured and La Compagnie Financière Drouot was renamed Finaxa.
Until 2005, Finaxa was a holding company whose principal asset was a significant equity interest in AXA (roughly 17.1% of AXA's ordinary shares, representing approximately 27.2% of the voting rights as at February 29, 2004). In addition, Finaxa owned the AXA brand.
In 2005, AXA decided to simplify its legal structure through the merger of FINAXA into AXA. The transaction was approved at both AXA and FINAXA extraordinary shareholder's meetings held on December 16th, 2005. With the merger, the Group becomes owner of the AXA brand. As a result of the merger French Mutuelles AXA become the largest direct shareholder of the AXA Group with 14 % of outstanding shares and 23 % of voting rights.
8. Which companies are subsidiaries of AXA S.A.?
Almost exclusively, AXA S.A. (the Group's holding company) owns equity interests (often 100%) in the Group's insurance and asset management subsidiaries.
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9. When does the Group's fiscal or financial year begin and end?
The fiscal year starts on January 1 and ends on December 31.
10. What is the AXA Group's market capitalization?
Market capitalization is the price per share at a given date times the number of shares issued. On December 31, 2007, AXA's market capitalization was 56,4 billion euros.
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11. What are the AXA Group's financial strength and credit ratings?
Rating agency conclusions for the Company are available here.
12. What accounting standards does AXA use?
As of 2005, the Group applies International Financial Reporting Standards (IFRS). On January 6, 2005, AXA held a meeting to explain the accounting policy changes arising from the introduction of IFRS standards.
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13. AXA considers itself to be a responsible enterprise. What does this mean?
AXA is a responsible enterprise for two reasons:
- The very nature of its business: financial protection,
- Its commitments to do business responsibly with respect to its principal stakeholders.
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14. What is AXA's position on corporate philanthropy and sponsorship?
AXA's corporate philanthropy program is built around three key concepts:
- Volunteer work,
- Community philanthropy, with a particular focus on education and prevention initiatives,
- Cultural heritage philanthropy.