AXA SA is a French Holding company that operates with several subsidiaries. It is a multinational company operating globally in six different regions. AXA SA headquarters is in Paris, France and it was established in 1985. The company provides Insurance, Investment management, and other financial services.
AXA SA offers different services in several regions. It mainly provides services in six broader categories of Life & Savings, Property & Casualty, Health, Asset Management, and Banking. For retail clients, key services include insurance, life and savings, and health insurance.
Source: axa.com
AXA SA provides a wide range of insurance and financial services globally. However, it faces stern competition from established market players like AVIA, AIG, and Allianz. The competition in the financial services industry and insurance segment is particularly stiff. For customers, these competitive rivals provide favorable alternatives to find similar services at better prices, though.
What is AXA SA?
AXA SA is an established player in insurance and investment management services. It’s a listed company and trades under the stock symbol of AXAHY. Its current share price is trading at $ 26.36. Currently, the company is valued at around $ 62.91 billion. The company reported revenue of € 96.7 billion for the fiscal year 2020. The company provides its professional services globally with a permanent staff strength of over 153,000.
AXA SA has the headquarter in Matignon Paris, France. It operates through different regional offices globally. The company operates through different geographical segments in different regions globally. These regions include:
- France
- Europe
- Asia
- AXA XL
- The United States
- International, and
- Transversal & Central Holdings.
AXA SA provides services in the French domestic market as well in the international markets. Its services include life and non-life insurance products, pension products, savings, investment management, and asset management services. However, some of its services may not be available in all countries or offered with a slight variation.
AXA SA holding group operates with several subsidiaries. Some of its subsidiaries include:
- Alliance Bernstein Corporation
- Alpha Units Holdings, Inc.
- AXA Equitable Holdings, Inc
- AXA Corporate Solutions Life Reinsurance Company
- AXA Equitable Financial Services, LLC
- AXA Equitable Life Insurance Company
- US financial Life Insurance Company
AXA SA Key Products and Services
AXA SA is mainly an insurance provider to retail and corporate clients worldwide. However, it offers a broader range of products and services that include all life and business protection products.
Let us analyze the broader categories of financial and insurance services on offer by AXA SA.
The Property-Casualty Business
The property-casualty business includes insurance services for individuals and businesses. These products are designed to mitigate the risks arising to a person or a business.
The insurance products under this include:
- Auto insurance
- Home Insurance
- Fire insurance
- Accidental insurance
- Theft
- Business Coverage
These services also include insurance-assisted services for special zones in the EU region. Some of the assisted insurance services include marine and aviation lines of businesses in particular countries.
The Life and Savings Business
The life and savings business sections offer life protection instruments to individual clients. Investors can also use insurance products as long-term saving instruments. Mainly, these products are designed to protect an individual’s life from different threats to health and life.
Some of the life and savings products include:
- Life insurance
- Health insurance
- Accidental coverage
- Savings accounts
- Retirement plans
- Pension plans
Asset Management Business
Asset management business is designed to protect the investments of individual and corporate clients. AXA SA offers these asset management services to its insurance companies, their clients, and also to third-party clients.
Source: axa.com
The asset management section aims to generate revenues for individual and corporate clients. The corporate clients include insurance companies particularly. The returns generated should cover the asset management fee as well as returns required by the clients.
AXA SA offers asset management services with different classes of assets such as:
- Equities
- Bonds
- Hedge Funds
- Real Estate, and
- Private Equity
Apart from these broader categories of insurance and asset management services, AXA SA also offers various products in different geographical zones.
Some of these specialized services include:
- Insurance and reassurance services in:
- Property risk
- Casualty
- Property catastrophe
- Primary and excess casualty
- Environmental liability
- Professional liability
- Construction, Marine, Aviation, and Satellite industries
- Fine arts, equine, Livestock, and aquaculture
Who Are the Top AXA SA Competitors and Alternatives?
The financial services and Insurance industry is a fiercely competitive industry. AXA SA also faces stern competition from its top rivals. Many private and public companies, including leading banks and financial corporations, offer insurance and asset management services.
Here are our top 5 picks for AXA SA competitors and the best alternatives.
- AVIVA
- AIG
- Allianz
- MetLife Insurance
- Progressive Insurance
Let us review these companies briefly and see how they compare against AXA SA.
1) AVIVA
AVIVA is one of the largest insurance companies in the world. It was renamed from CGNU plc to AVIVA in 2000. AVIVA’s headquarter is in London, England, and it operates in 16 international destinations. It has around 33 million customers that generated a £ 46.9 billion revenue in the fiscal year 2020. It’s a listed company on the London Stock Exchange.
Aviva offers insurance, investment management, and retirement plans to its retail and corporate clients worldwide. The product range and services offered by Aviva are similar to those offered by AXA SA. However, AXA SA has a larger global presence with several geographical locations.
Key Products and Services Offered by Aviva
Aviva operates through a presence in several international destinations. It mainly offers products in general insurance, reassurance, and retirement planning. It offers most of the services to retail and corporate clients.
Some of the top products offered by Aviva include:
- Insurance
- Motor Insurance Products
- Home insurance products
- Life insurance products
- Travel insurance
- Pet insurance
- Investments
- Pension plans
- Stock investments
- Savings Accounts
- Wealthily – wealth management
- Select investment – bonds
- Health
- Health insurance
- Physio insurance
- Diagnostic insurance
- Cancer essentials
- Retirement
- Retirement planning
- Pension calculator
- Pension plans
- Annuities
- Lifetime care
- Income drawdown – flexible income
AIG – American International Group
The American International Group (AIG) is an American firm offering insurance and asset management services. AIG headquarter is in New York, and it is listed on the New York Stock Exchange. It offers insurance and financial management services worldwide and is a prominent competitor of AXA SA.
AIG has over 45,000 employees serving under the group in several locations. AIG reported revenue of $ 43.4 billion and net losses of $ 5.6 billion for the fiscal year 2020. The company holds total assets of $ 586.7 billion, including $ 66.36 billion equity.
Key Products and Services Offered by AIG
AIG offers a similar product range to AXA SA. It mainly offers services in insurance, reassurance, retirement planning, and investment management categories.
Some of the top products available at AIG include:
- Life Insurance Products
- Term Life Insurance
- Universal Life Insurance
- Guaranteed Issue Whole Life
- Personal Accident and Health Insurance
- Accident insurance
- Accident and sickness insurance
- Accident death plus insurance
- Health insurance
- Travel Insurance
- Home Insurance
- Mortgage Loans
- AIG Direct
- Private Client Group
2) Allianz SE
Allianz SE is a German insurance and financial service provider. It has a long and established history in the insurance industry since its inception in 1890. It is one of the largest insurance companies in the world. It achieved the top spot for the world’s largest insurance company in 2014 according to a Forbes survey.
Allianz operates in several international destinations and offers a wide range of insurance, financial management, investment, retirement planning, and asset management services.
Allianz reported revenue of € 140.455 billion with a net income of € 7.133 billion for the fiscal year 2020. The company has total assets of € 1.060 trillion including € 80 billion equity.
Key Products and Services at Allianz
Allianz offers insurance and asset management services to Individual and corporate clients worldwide. With around 1,960 billion euros of assets under management, Allianz is one of the largest asset management firms in the world.
Top services and products at Allianz include:
- Asset Management
- Property and Casualty Insurance
- Health and Life Insurance
- Business Insurance
3) MetLife Insurance
MetLife Incorporation is one of the leading insurance companies in the world. It was founded in 1868 and had one of the longest working histories in the financial sector companies. The company serves around 90 million customers in over 60 countries worldwide.
MetLife reported $ 69.90 billion (2019) and a net income of $ 5.909 billion (2019). The company has total assets of $ 790 billion. It serves through a workforce of around 43,000 employees worldwide.
MetLife is an established player in the insurance and asset management industry. It remains one of the largest competitors to AXA SA. It means another valuable alternative for AXA SA customers too.
Key Products and Services by MetLife
MetLife offers a comprehensive range of insurance, investment, asset management, and retirement planning products. It offers products to individual, retail, and corporate clients worldwide. A key distinction of MetLife is its specialized insurance products in oral health insurance, such as dental and eye insurance products.
Some of the top products available at MetLife include:
- Insurance
- Dental Insurance
- Vision Insurance
- Accident
- Hospital indemnity
- Critical illness
- Cancer
- Disability
- House insurance
- Vehicle insurance
- Pet insurance
- House insurance
- Business and Brokers
- Group auto and home insurance services
- Group vision and dental
- Group legal services
- Broker assistance
- Investment Management
- Retirement and Income Solutions
- Lifetime income annuities
- Pension plans
- Retirement plans
- Pension risk
- Structured payment plans
Progressive Insurance
The progressive corporation is an insurance provider. It was founded in 1937, and since then, it has been one of the leading insurance service providers. It has an established history; thus, it comes as one of the top competitors for AXA SA.
Progressive insurance reported $ 42.5 billion and a net income of $ 5.704 billion for FY 2020. It has total assets of $ 64.08 billion, including $ 17.038 billion of equity. It serves its millions of customers worldwide through several international locations and around 35,000 employees.
Key Products and Services at Progressive Insurance are listed below.
- Vehicle Insurance
- Auto insurance
- SUV, Boat, classic car, Golf cart
- PWC
- Segway
- Personal
- Life insurance
- Health insurance
- Dental and vision insurance
- Pet insurance
- Wedding and events
- Travel insurance
- ID theft
- Finance
- Car financing
- Personal loans
- Commercial
- Business insurance
- General liability
- Professional liability
- Workers’ compensation
- Property
- Home Warranty
- Home Security
- Flooding
- Renters