Globally diversified and internationally reputed (strong brand; market share: 3% of the world insurance market), AXA is a leading global insurance (with a more than €90 billion turnover, 65 million customers worldwide, and 150,000 employees) and asset management (3rd largest asset manager in the world, just behind UBS and Fidelity) firm. The asset management activities of the group are taken care of by two companies: Alliance Bernstein in the U.S. and AXA Investment Managers in Europe.
[...] Strategy The group aspires through its strategic plan, dubbed ‘Ambition 2012', to be a world leader in financial protection and savings with a focus on the life insurance business and on retirement savings, whose growth rate is twice as important as that of life insurance. The means used to achieve the targets are as follows: - A growth strategy based on the international diversification of profit centers (U.S., UK, Germany, and Japan in particular). AXA seeks to reduce its positions in the countries where it does not have the critical size as yet (i.e. [...]
[...] These are growth markets with a premium growth of double digits in the life insurance sector and a relatively high GDP growth in the damage insurance sector. These markets accounted for of the group's revenues in 2007; in Southern Europe, AXA ranked fourth in the damage insurance sector of premiums), but eighth in the life insurance sector ( of premiums). Elsewhere in Europe, the group is present in Turkey (No in the damage insurance sector and No in the life insurance sector). [...]
[...] - A known brand with a strong position in most of its markets, and its knowledge acquisition is undeniable. We highlight here the group's sound quality management. - A good geographic diversification/trade group that has the ability to protect itself from fluctuating financial markets and difficulties related to a specific area. - Greater optimization of the management of its capital through the securitization of 85% of its portfolio of automobile contracts in France. Interest in this type of operation is multiple: raise less capital to cover its margin of solvency (in France, the need for minimum regulatory capital is 16% of the damage bonuses), while helping to raise funds to reuse other resources of the group. [...]
[...] However, it comes in fifth in the life insurance sector. In Southern Europe, the business of AXA is spread over three countries: Italy (6th biggest insurance market in the world; AXA is No in the overall insurance market, No in the damage insurance sector, and No in the life insurance sector with a pdm of Spain (AXA's position: No with a pdm of No in the damage insurance sector, and No in the life insurance sector), and Portugal (AXA ranks 28th.). [...]
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