Axa (CS.FP)

Description:

AXA's origins date back to Ancienne Mutuelle, which was one of the few insurers that remained after the creation of the French social security system. With the threat of nationalization, a merger took place between Drouot and AXA (still known as Mutuelles Unies in 1982) and later Présence. Ten years later, AXA acquired North American life insurer Equitable Holdings. This was a time of expansion as AXA also bought the French insurer UAP. As markets crashed at the turn of the millennium, AXA decided to refocus its business and exited its stake in US investment bank Donaldson, Lufkin & Jenrette. A few years later the firm expanded again with the acquisition of Swiss insurer Winterthur. About five years ago, AXA started to reshape its portfolio to technical risks.