For many years, AXA has managed to be the best insurance company in the world specializing in many services such as global insurance as well as investment management. Over the years, AXA has also managed to compete with other financial companies in the industry such as State Street Corporation and Barclays. In the last eight years, the AXA Group has recorded a 14 percent brand value growth every year. Its services are available across the globe as it has offices in Western Europe, Africa, Asia, the Middle East and North America. Since it operates from several nations, the company has mastered the art of learning and understanding laws and regulations of these nations.
AXA has been in operation since the year 1816 when it was established as Mutuelle de L’ assurance centre L’ incendie. Where the tactic of first mover advantage cannot be applied, the AXA results to mergers and acquisitions. Some of the firms that the company has managed to acquire over time include Winterthur Group, Guardian Royal Exchange, the Equitable and the Drouot Group.
The name AXA is not an acronym. The name was chosen for pronunciation purposes. The owners of this firm wanted a name that would be pronounced by people of all nations. This was back in the year 1985. In different nations, the company operates under different names. The firm does not keep all the money it makes and donates some for good causes. For instance, the firm has two causes known as the AXA Heart in Action and the AXA Research Fund.
Vincent Parascandola is the current senior executive vice president of AXA operations in the United States of America. Vincent Parascandola is a graduate of the Pace University-Lubin School of Business where he specialized in computer science.
Prior working with the XAS US, he used to work with the MONY Group and Prudential Insurance as an agent.