AXA Asia Pacific Holdings Limited

From IntFX

See also: AXA for realtime information.

AXA Asia Pacific Holdings carries out life insurance and wealth management businesses of Global AXA Group in the Asia-Pacific region. The Company has operations in Hong Kong SAR, China, Singapore, Indonesia, Philippines, Thailand, India, Malaysia, Australia and New Zealand.

AXA Asia Pacific provides and distributes wealth management and financial products and services through brands including AXA, ipac, Summit, Generations, AllianceBernstein, Spicers, Arcus, Krungthai AXA Life, Phillipine AXA Life, PT AXA Life Indonesia, PT AXA Mandiri Financial Services, AXA-Minmetals Assurance Co, and the newly established AFFIN Holdings and Bharti AXA Life.

The Company employs approximately 4,200 people across the world. AXA Asia Pacific is headquartered in Melbourne, Australia.

[edit] History

The Company has its roots in the National Mutual Life Association of Australia (NMLAA) Limited formed in 1869 in Melbourne. In 1980, NMLAA acquired Australian and New Zealand life insurance business of Commercial Union and in 1983 got merged with Temperance & General Mutual Life Society. In August 1995, the Company was demutualised and acquired by AXA. The Company was listed on the the Australian and NZ Stock Exchanges in October 1996.

The name of the company was changed to AXA Asia Pacific Holdings in 1999. The Company has since then grown through organic and acquisition route. It has acquired Sterling Grace in 2001, ipac in 2002, the Bank of New Zealand Investment Management in 2006 MLC Hong Kong and MLC Indonesia in 2006 and Tynan Mackenzie in 2006.

[edit] Financial performance

The Company’s operating earnings increased 23.6% to A$455 million in 2006 from A$368 million in 2005. During the same period AXA Asia Pacific’s investment earnings increased 32.9% to A$343 million from A$258 million in 2005. The Company’s net earnings were up 23.2% to A$668 million in 2006 from A$542 million in 2005.

AXA Asia Pacific currently has approximately A$97.65 billion of funds under management.