Owned by a French group of the same name, AXA is one of the world’s leading providers of insurance and wealth management.
In 2013, the company was voted the top insurance brand globally by Interbrand magazine, and is estimated to earn revenues of €86 billion annually, holding around €1 trillion in assets.
AXA’s British subsidiary is among their most profitable, with this arm of the company is currently responsible for the insurance policies of 13 million people. Their UK operations are split into 4 unique sections:
- AXA Sun Life – dealing with the bulk of the company’s personal insurance policies
- AXA Wealth – dealing with investments for customers
- AXA PPP Healthcare – a private medical insurance provider
- AXA Commercial – dealing with insurance for business.
Unsurprisingly, given the scope of their business, AXA offer a full range of insurance products, covering everything from cars and homes through to life and healthcare. In this respect, they are much larger than their main competitors Direct Line and Aviva – however, AXA UK is frequently outperformed by both companies commercially.
In their most recent financial reports, AXA UK posted profits of £178 million for the 2013 fiscal year – however the company has been affected by the growth of cut-price, internet only insurers such as Esure and Swiftcover, and these new operations look to pose an even greater threat for the company going forward.