1: AXA

Worldwide GWP for 1998 (£000s):
£33,299,133 (1997 for AXA:UAP : £30,983,803)

Chief officer:
Claude Bébéar

Biography:
Claude Bébéar first joined Anciennes Mutuelles, a small regional mutual insurance company, after graduating from Ecole Polytechnique in 1958. From 1958 to 1975 he assumed positions of increasing responsibility in every division of the company, including a two-year assignment in Canada from 1964 to 1966, where he founded the life insurance branch of Provinces Unies, a subsidiary of Anciennes Mutuelles. In 1975, he became CEO of Anciennes Mutuelles, which was renamed Mutuelles Unies in 1978.

The 1980s were a period of rapid growth in which Bébéar rose to the forefront of the French Insurance industry, and the Group was renamed AXA in 1985. In 1986 AXA became France's second largest insurer with the acquisition of Présence, and it expanded further through its merger with Compagnie du Midi in 1988. Acquisitions in the 1990s included a controlling interest in The Equitable Companies Inc. in the US (1991) and National Mutual in Australia (1995).

Claude Bébéar is vice chairman of the FFSA, honorary chairman of the French Actuarial Institute and vice chairman of the Geneva Association. He is also a chartered member of the French Actuarial Institute. He is chairman of the Foundation pour le Mecenat Humanitaire, an organisation which co-ordinates the philanthropic efforts of some 30 French corporations, and in 1991 he created the AXA Atout Coeur philanthropic association, of which he is chairman.

Year company established:
Origins back to 1816

Address, telephone and fax number of European head office:
21-23 Avenue Matignon
Paris
France
Tel: +33 1 40 75 57 00
Fax: +33 1 40 75 47 92
http://www.axa.com

Key insurance personnel:
Henri de Castries (president of the management board)

Claude Bébéar (chairman of the supervisory board)

Dr Claus-Michael Dill (CEO, Axa Colonia Konzern, Germany)

Les Owen (CEO, Axa Pacific Holdings, Axa Australia)

Jean Luc Bertozzi (CEO, Axa France Assurances, France)

Alfred Bouckaert (CEO , Axa Royale Belge, Belgium)

Mark Wood (CEO, Sunlife + Provincial Holdings, UK)

Michael Hegarty (CEO, Axa Financial Inc, USA)

Company history:
1816:
Creation of the Mutuelle de l'Assurance contre L'Incendie a Paris (MACL), a mutual company offering fire insurance coverage. This was the first insurance company set up in France, and became part of the AXA Group when the former was aligned with the Compagnie du Midi.

1817:
Creation of the Compagnie d'Assurances Mutuelles contre L'Incendie, the company at the origin of what later became the AXA Group.

1828:
Establishment of the Union, the company in the UAP Group

1838:
Creation of the Urbaine

1889:
Founding the Séquanaise

1945:
A change of name for the Compagnie d'Assurances Mutuelles contre I'Incendie to the Ancienne Mutuelle. The UAP's three founding groups ( Union Urbaine, Séquanaise ) are nationalised.

1968:
Birth of the Union des Assurances de Paris

1975:
Claude Bébéar becomes Chairman of the Ancienne Mutuelle

1978:
Name change for the Group Ancienne Mutuelle, which becomes the Mutuelles Unies. Founding of UAP Assistance.

1982:
The Mutuelle Unies takes control of the Group Drouct

1984:
Beginning of the registration and of the use of the AXA trade marks.

1985:
The Mutuelle Unies/Group Drouot adopt the name AXA.

1986:
AXA takes control of the Présence Group

1987:
UAP acquires an equity interest in Royale Belge and a majority stake in the New Ireland Group (Ireland).

1988:
Alignment between AXA and the Compagnie du Midi. UAP acquires an equity interest in Sun Life in the UK.

1989:
AXA takes control of the Compagnie du midi. UAP takes control of Allsecures in Italy. UAP acquires the Spanish assistance group GESA

1991:
Agreement entered into between AXA and Equitable, a north American life insurance company. UAP establishes PanEuroLife in Luxembourg to sell life insurance in Europe. UAP And BNP jointly create National Assurance.

Founding of AXA Atout Coeur.

1992:
Equitable is demutualised, AXA AURORA is set up in Spain in partnership with BBV, Spain's second largest bank.

1993:
UAP acquires the European operations of Groupe Victoire including a majority share holding in Colonia Konzern. Creation of UAP Executive Partners (specialising in D&O cover).

1994:
Privatisation of UAP. It acquires Boreal in Canada and Victoire in Belgium, and increases its stake in Equitable to 60%.

1995:
AXA acquires a majority share holding in National Mutual, the number two in Australia, New Zealand and Hong Kong. Creation of UAP Benefits Network (European group insurance network). Establishment of Insurance Foundation for Intergenerational Solidarity.

1996:
AXA is listed on the New York Stock Exchange. Nov 12 - alignment of AXA and UAP.

1997:
AXA announces its intention to establish a presence in the People's Republic in China when the country opens its market to foreign insurers.

1998:
Restructuring of AXA-UAP's insurance and assistance operations in France, resulting in the creation of three companies AXA Assurances, AXA Courtage, AXA Conseil.

1999:
The UAP name is formally dropped, following a vote among the shareholders.

January 2000:
Reorganisation of the Management Board: C Bébéar becomes chairman of the Supervisory Board.

Different classes of business:
Insurance
Reinsurance
International business
Asset management and other financial services

Worldwide net written premium for 1998 (£000s):
£31,837,508

Worldwide net written premium for 1997 (£000s):
£29,071,154