Philippine AXA Life
@ Philippine Company Profiles
How AXA came to be
Mutuelle de l'Assurance contre l'incendie was founded in Paris in 1816 and started operating in 1817 as Ancienne Mutuelle.
In 1955, it expanded its operations in Canada. Early 1980's saw the growth of the company when it aligned with Drouot, a company specializing in property appraisal and insurance.
Because of the Group's international ambition, they decided on a short and more upbeat name that can be pronounced in every language. Thus the name, "AXA" replaced Mutuelle Unies-Drouot, enabling the Group to be first in lists and directories.
Joint Venture of Metrobank and AXA Group
A Formidable Alliance
Forged out of the partnership between two financial giants: the Global AXA Group, one of the world's largest insurers, and the Metrobank Group, the country's largest financial conglomerate.
The AXA Group has total revenues of US$ 66.9 billion with assets under management of US$ 802 billion in 2001. Its workforce includes 140,000 employees and agents in over 50 countries.
The Metrobank Group has consolidated resources totaling PhP 472.46 billion and capital funds over PhP 52.91 billion. It is the largest bank in the Philippines with a network of 800 branches and offices.
An Emerging Leader
Ranks fifth among the country's top ten players in terms of total annual premium in the life insurance industry. Philippine AXA Life has assets amounting to PhP 4.61 billion, with gross premium income in 2002 of PhP 2.77 billion.
An Innovative Partner
Has a growing workforce of 289 employees. Philippine AXA Life has 1,455 agents deployed around the country and 260 financial executives providing comprehensive and professional financial planning service to bank-based clients. The company also has a group marketing department, which takes care of corporate accounts through leading brokers and in-house distribution channels.
AXA Group's Founding Principles
Because AXA 's presence spans over 60 countries, it has adopted the "think global, act local" principle. This spells decentralization for most AXA units for effective action and centralization of a few critical functions such as:
� Planning, reporting and decisions concerning the allocation of shareholders' equity and acquisitions
� IT policy
v� Human resources philosophy and executive career management
� Use of the AXA trademark and the corporate image
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