Home / Types of Life Insurance Policies / - AXA Insurance, Life Insurance Company
AXA and has its head office in Paris, France and at the end of 2004 had just under 190,000 employees worldwide. The AXA Group is the world’s second largest insurer.
The Company operates primarily in Western Europe, North America and the Asia Pacific region and, to a lesser extent, in other regions, including in particular the Middle East.
AXA has five operating business divisions, namely, Life and Savings, Property and Casualty, International Insurance, Asset Management and Other Financial Services.
In the UK, AXA trades under the brands of AXA Sun Life and AXA PPP Healthcare.
AXA Sun Life
AXA Sun Life was created following the merger between AXA Equity & Law and Sun Life. AXA PPP Healthcare was created when AXA bought Guardian Royal Exchange (GRE), though it subsequently sold the other parts of GRE to Scottish Equitable.
Sun Life was originally formed in the UK in 1810 and Equity and Law was originally formed in the UK in 1844. AXA Sun Life was created in 1997 after the joining of Sun Life Group and AXA Equity & Law.
AXA PPP Healthcare
AXA PPP healthcare has been helping people access private healthcare since 1940, when it was known as the London Association for Hospital Services.
Today it provides healthcare cover for individuals and companies, funding for dental care (through its sister company Denplan), as well as health information, occupational health and employee assistance services.
Despite always being written in upper case, "AXA" is not an acronym, but was chosen because its name can be pronounced easily by people who speak any language. Originally named Ancienne Mutuelle, the firm renamed itself Mutuelles Unies after acquiring another insurer in 1978; the present name dates to 1985.
On 14 June 2006, AXA acquired the leading Swiss insurance company Winterthur Group from Credit Suisse for approximately 9 billion euros.
25 June 2008 10:38:28
A growing number of people under the age of 30 are being diagnosed with emphysema, according to the British Lung Foundation.
The issue has come to light after singer Amy Winehouse was recently diagnosed with the condition.
Dr Keith Prowse, chairman of the British Lung Foundation, stated that an increasing number of people under the age of 30 "who smoke cigarettes heavily and are into recreational drugs" are being diagnosed.
However, Dr Prowse went on to explain that it is not simply an indulgent lifestyle that causes the disease and that young people can contract emphysema as a result of genetic conditions.
Emphysema is most common in people in their 40s and is part of the group of lung conditions called Chronic Obstructive Pulmonary Disease (COPD).
Figures released by the British Lung Foundation reveal that COPD kills around 30,000 people in the UK every year.
13 September 2007 14:12:41
Firms from the UK life cover sector and other insurance industry bodies have launched a new initiative to combat climate change.
The ClimateWise principles - developed by Lloyd's of London, global insurance firms, reinsurers and brokers - will aim to raise awareness of the importance of pursuing ecofriendly business practices.
Stephen Haddrill, director general of the Association of British Insurers, explained that UK companies should aim to be as green as possible, as well as instigating environmentally-conscious behaviour from their customers.
"Uniquely in the UK we protect people from the consequences of flooding. By assessing the rising financial costs of extreme weather we are helping society make the right decisions for the future," he said.
"But we need to do more. The principles will enable us to do so by encouraging greater climate-friendly behaviour among our customers through our investment strategy and risk analysis."
His Royal Highness, the Prince of Wales, was present at the launch and backed its efforts to inspire global awareness.
"The ClimateWise principles are targeted on those areas of skill and expertise within the insurance sector and are the result of nearly a year's hard work" he commented.
"I hope and pray that they will be useful in encouraging both collective and individual action to tackle climate change."
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, and critical illnesslife insurance policies online.
25 July 2007 11:33:56
Top UK life insurance firm LV= has made two new high-profile appointments, continuing a run of recent managerial changes.
Keith Abercromby, formerly financial director in the life cover division of LV= rival Norwich Union, has been appointed LV= group director for finance.
He will report to group chief executive Michael Rogers.
"I am delighted to have been able to attract someone with Keith's credentials. His extensive experience in financial services will be invaluable in helping us to grow and develop our business," said Mr Rogers.
"It is a great time to be joining LV=," Mr Abercromby added.
"I am looking forward to being part of the management team that builds on the successes of the past but also drives the business forward to compete more successfully under its new strategy."
Michelle Alcock, meanwhile, has been named head of affinity relations, taking over from Howard Paine, whose retirement later this year will spell the end of a 30-year stay in the life insurance business, with LV= and its previous incarnation, Liverpool Victoria.
