Our Commitments

Our vision about Sustainability involves striking a long-term balance between environmental, social and economic concerns.

Rise of a small mutual insurer from Normandy

AXA’s origins can be traced back to a small mutual insurer from Normandy: Ancienne Mutuelle de Rouen, created in the early 19th century and specialized in property and casualty insurance.

Claude Bébéar joins Ancienne Mutuelle de Rouen as deputy director. 

The company’s new headquarters are inaugurated in Belbeuf, against a backdrop of widespread social unrest in France (May 1968).

Claude Bébéar becomes CEO of Ancienne Mutuelle at the age of 40.

Ancienne Mutuelle changes its name to “Mutuelles Unies”. 

In the post-war period, the insurance industry is struggling. The creation of the French social security system in 1945 deprives mutual insurers of a large part of their business by providing workplace accident and illness cover for workers. However, carefully led by its manager André Sahut d’Izarn, Ancienne Mutuelle emerges from this period in quite a strong position. It even welcomes on board several small regional mutual insurers. 

In this environment, a young Claude Bébéar joins the company “a bit by chance” in 1958. Sahut d’Izarn, looking for a future successor, adopts him as his protégé and trains him up on the business’ specific demands. 

Claude Bébéar eventually takes the company’s helm in 1975. He is 40 years old, with a modern vision for insurance and already the firm belief that to be sustainable, it is essential to become international and anticipate societal changes…

1975

1978

The inauguration  of the new headquarters in Belbeuf

22,000 m2 of extremely modern offices, with construction costs representing almost 10% of the company’s assets! A crazy project, but the stakes are high: Ancienne Mutuelle’s new headquarters in Belbeuf must make it possible to break away from the image of a “small provincial mutual” and empower its employees to dream.

In 2018, after 43 years at this historic site, AXA moves to Isneauville, a few miles away, with offices that are…extremely modern!

How AXA became a multinational

AXA makes its mark in France

In France, after 25 years in opposition, a left-wing government takes power in 1981. This brings the looming possibility of major nationalization programs targeting private insurance companies.

“Mutuelles Unies” acquires Drouot, which immediately gives it a nationwide presence in France. 

The AXA name, which can be read in all languages, is launched. However, the Group’s various companies do not switch to the AXA brand until the early 1990s.

The Group holds its first “major” seminar, bringing together 86 executives in Niger’s Ténéré Desert.

Compagnie du Midi is acquired, AXA is now listed on the stock market.

The Group takes its first international steps, moving into the UK, Netherlands and Germany.

The Drouot Group, France’s leading insurer, is afraid that it might be included in the list of the next firms identified for nationalization and discusses opportunities for an alliance with Claude Bébéar. In 1982, following several incredible developments, AXA – still known as “Mutuelles Unies” – acquires Drouot. This is followed by two further acquisitions – the Présence Group (1986) and Compagnie du Midi (1989) – which propel AXA into second place on the French insurance market, behind UAP.

However, in 1986, the saying “three’s a crowd” proves right as disputes start to flare up between Drouot, Mutuelles Unies and Présence, as each of the Group’s components looks to take center stage. To bring everyone on board for the strategy, Claude Bébéar and his chief of staff Françoise Colloc’h take all the executives off to the Ténéré Desert. This shared experience paves the way for a truly united group and support for one single name: AXA.

AXA, world leader for insurance

The early 90s are marked by three main events: the fall of the Berlin Wall, the Gulf War and a major economic recession. This challenging period also opens up opportunities for those who know how to capitalize on them. 

A majority interest is acquired in the US life insurance firm Equitable.

AXA Hearts In Action is created, AXA’s employee volunteering program. 

The “Ambitions 2001” strategic plan is launched. Objective: to be the world number 1 by 2001.

The Group takes its first steps in Asia, acquiring an interest in the Australian group National Mutual and its Hong Kong-based subsidiary.

AXA merges with UAP to become France’s number 1 insurer and considerably strengthens its presence in Europe.

AXA acquires the US firm Equitable. With this acquisition, AXA establishes itself as a leading international group.

The second key milestone from this decade takes place five years later. To widespread surprise, AXA “absorbs” UAP, which is twice its size. This deal creates France’s number 1 and the world’s number 2 insurer. 

AXA follows this with a series of acquisitions, buying out the Japanese company Nippon Dantai and taking over Guardian Royal Exchange, enabling it to strengthen its presence in 15 countries and move into the health segment through its subsidiary PPP Healthcare. The Group continues to invest in health then in research in order to take action for collective progress by protecting what is most essential for people: their health.

In 1999, eight years after being created, Direct Assurance opens its Internet site. The Group’s digitalization is underway.

At the dawn of the new millennium, AXA becomes a global leader. More than ever, its success is built around a shared culture.

Claude Bébéar

“This condition is essential for developing a shared economic adventure”

Faced with the crises, AXA strengthens its organization  

2001 is marked by the bursting of the dot-com bubble and the tragic September 11 terrorist attacks. A perfect storm…

Henri de Castries takes over from Claude Bébéar.

The Swiss firm Winterthur is acquired. The quality of the integration process highlights AXA’s expertise in this area. 

AXA is the number 1 global insurance brand in the Interbrand rankings.

As soon as he takes office, Henri de Castries chooses to sell off the US investment bank Donaldson, Lufkin & Jenrette (DLJ) and target operational excellence for the Group’s core business areas (insurance and asset management).

The Group organizes itself to weather this storm: rolling out a plan to reduce spending, turning around its technical results and further strengthening its risk management, with the creation of Group Risk Management which objective is to analyze the Group’s risk exposure and appetite with a more in-depth approach and to prepare for future new regulations (Solvency 2).

In 2006, the economic environment is positive again. AXA returns to profitable growth, acquires the Swiss firm Winterthur and starts investing in emerging markets.

When the subprime financial crisis breaks out in summer 2007, AXA has learned the lessons from 2001. Thanks to its efficient internal risk management system (GRM), the Group is affected, but shows its resilience, without public bailouts.

In this volatile environment, AXA remains convinced of the importance of its long-term commitments to its customers and society in general. In line with this spirit, AXA launches the AXA Research Fund to improve the understanding and prevention of major risks around the world. The AXA Research Fund further enhances the wide range of initiatives in place across the Group, which is committed to taking action on what counts for communities. Created out of the belief that science has a key role to play in meeting society’s major challenges, AXA sets out its commitment to help drive collective progress by supporting research projects focused on health, the environment, new technologies and socioeconomics.

Creating a new AXA

Earthquakes in Japan and New Zealand, Arab Spring, Eurozone crisis…Early 2010s prove to be a turbulent time.

The Ambition AXA strategic plan is launched, focused on a selective approach to mature markets, while accelerating emerging markets.

AXA is an official partner of the COP21 climate change event and divests its coal industry assets.

Thomas Buberl and Denis Duverne take over from Henri de Castries.

An innovation department is created to support the Payer to Partner vision.

With the acquisition of the XL Group, AXA becomes the world’s number 1 commercial P&C insurer. 

AXA builds on its robust growth in its target segments and key markets, while maintaining its strong commitment to combat global warming.

Faced with a constantly changing world, AXA understands that it needs to adapt. The Group launches Ambition AXA, its new strategy and “transformation” plan. 

The priority now is to no longer be present everywhere geographically, but to be where the business has added value, closely aligned with its customers’ needs. 

AXA begins to focus on the health, protection and commercial P&C segments, before Thomas Buberl, who has been heading up the Group since 2016, clearly identifies them as the Group’s new strategic priorities.

In these segments in particular, AXA will be able to innovate and offer new services for its customers. An innovation department is also set up to support the Group’s new Payer to Partner vision.

In 2018, with the acquisition of the XL Group, a commercial P&C insurance specialist, and the floating of AXA Equitable Holdings, the American life insurance and asset management subsidiary, on the US stock market, the Group’s whole profile is being transformed.

In 2019, AXA continues to grow in its priority segments and ramps up its commitments to fighting global warming. The Group launches a new climate strategy with a wide range of commitments, including measures ensuring alignment with the Paris Agreement, a strengthening of its coal policy, and the launch of Transition Bonds to facilitate decarbonization. 

Less financial risk, more insurance risk – at the dawn of a new golden age for insurance, this is the start of a new adventure for AXA in an increasingly volatile environment, with unprecedented climate and health risks, which AXA fully intends to take action on in order to protect what counts most for its customers.

AXA’s incredible adventure was born out of the dedication of a handful of men and women, led by Claude Bébéar, whose dream was to transform a small mutual insurer from Normandy into a world leader for insurance.

AXA’s adventure

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Discover the major periods of AXA's adventure

AXA’s incredible adventure was born out of the dedication of a handful of men and women, led by Claude Bébéar, whose dream was to transform a small mutual insurer from Normandy into a world leader for insurance. 

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Present in 50 countries, AXA's 154,000 employees and distributors are committed to serving our 94 million clients. Our areas of expertise are applied to a range of products and services that are adapted to the needs of each and every client across three major business lines: property-casualty insurance, life & savings, and asset management.

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As a global team with a huge range of different people from many nationalities, backgrounds and cultures, we want each and every one of you to feel included, supported and heard.

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We continue to progress towards gender parity at all levels of the organization.

Reaching gender balance

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Thrive within a Diverse Community

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Act for Human Progress by protecting what matters

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New risks and new vulnerabilities are emerging creating an uncertain future for each and everyone of us. In this new world of interconnected and unpredictable risks, the need for more protection becomes an even more important mission.  

axa_manifesto_2023_va.pdf

PDF Document

AXA Manifesto - Why should the future be a risk?

AXA Manifesto

At AXA, we believe we are at a defining moment for our industry.   

As a world player, we have the means and the ambition to recast our role, acting for individuals, economies and society’s progress. 

Now is the time to infuse our iconic brand signature “Know You Can” with an even greater sense of inclusion and ability to reinforce our collective destiny, to further express our shared optimism in the future, the belief that progress can and must benefit all.   

To do so, AXA is asking a simple yet provocative question: Why should the future be a risk?   
By reinforcing our ability to anticipate and identify risks and to push further the boundaries of insurance notably by designing new prevention services. We can help people, businesses and society regain control over the future and make life safer, fairer and more inclusive for as many people as possible. 

If life is full of risks, at AXA we believe the future shouldn’t be one of them.  

"Why should the future be a risk?" | AXA

As one of the largest global insurers, our purpose is to act for human progress by protecting what matters.

Protection has always been at the core of our business, helping individuals, businesses and societies to thrive. And AXA has always been a leader, an innovator, an entrepreneurial company, fostering progress in all its dimensions. Our purpose also links back to the Group's roots. From the outset, AXA has been committed to acting as a force for collective good. From solidarity-based actions with AXA Hearts In Action to work on prevention issues with the AXA Research Fund and the fight against climate change, AXA has always been attentive to its social environment and embraced its responsibility as an insurer: responsibility for taking action upstream in order to better understand risks, with one goal in mind: to ensure better protection.

What’s our purpose? 📌 | AXA

Our values reflect the culture that the Group’s teams around the world live and express each day. The strength of AXA’s company culture and its outstanding managerial continuity over more than 40 years can also be seen in the proximity of its values across the various periods. Customer First, Integrity, Courage and One AXA are the four core values adopted by the Group since 2016.

Unlock the Future Strategy

Accessible PDF document

2023 Integrated Report

2023 Integrated report

Accessible PDF Document

AXA's Adventure

AXA's adventure

Our Purpose

Execution of a share repurchase agreement in relation to AXA’s share buy-back program of up to Euro 1.2 billion

Full Year 2024 Earnings

AXA reveals its contribution to the France Pavilion at the 2025 World Expo in Osaka

This section provides access to the most recent press releases issued by the AXA Group.

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Discover who we are, our purpose and the aspirations which have always inspired AXA.

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A comprehensive digital tool designed to help individuals assess and understand their mental well-being.

AXA's Mind Health Check

All around the world, women are disproportionately impacted by risks.

Being a woman shouldn’t be a risk

In this Integrated Report, we share with you our vision, our ambitions and our initiatives to continue to be a world leader in insurance, but also a committed player in our society.

Unlock The Future - 2023 Integrated Report

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Towards an ever more Responsible & Sustainable Model. Our commitments focus on three key areas - the planet, the people, our products – with multiple initiatives and day-to-day actions to achieve our goals.

See how we manage our impact on the environment by reducing resource use and promoting climate change awareness.

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AXA strives to play a positive role in society, by building a culture that promotes employee volunteering and helping to build better understanding of the risks faced by individuals and society at large.

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With Enrique Martinez, CEO of FNAC Darty Group

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Our vision about Sustainability involves striking a long-term balance between environmental, social and economic concerns.

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Maria, a doctor from Bogotá at Emermédica, shows grit and empathy towards people who need her most.

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Execution of a share repurchase agreement in relation to AXA’s share buy-back program of up to Euro 1.2 billion

Full Year 2024 Earnings

AXA reveals its contribution to the France Pavilion at the 2025 World Expo in Osaka

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Virtual cultural conference on street art as part of the exhibition at the Musée d'Orsay

Virtual cultural conference on Gabriele Münter at the Musée d'Art Moderne de Paris

2025 Shareholders' Meeting

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