October 22, 2016 8:32 AM ET


Company Overview of AXA Equitable Life Insurance Company

Company Overview

AXA Equitable Life Insurance Company, together with its subsidiaries, provides insurance and financial advisory, and investment management products and services in the United States. The company operates in two segments, Insurance and Investment Management. The Insurance segment offers various life insurance products, including term life, universal life, and variable universal life insurance products; and variable and fixed annuities for asset accumulation and asset distribution needs. This segment also provides investment products, including mutual funds to individuals, small and medium-size businesses, and professional and trade associations on retail basis through financial professionals;...

1290 Avenue of the Americas

New York, NY 10104

United States

Founded in 1859

4,023 Employees





Key Executives for AXA Equitable Life Insurance Company

Chairman, Chief Executive Officer, President, Chairman of Executive Committee, Member of Investment Committee, Chief Executive Officer of Axa Japan, President of Axa Financial and Chief Executive Officer of Axa Financial
Age: 58
Chief Financial Officer and Senior Executive Director
Age: 48
Chief Operating Officer and Senior Executive Director
Age: 57
Chief Executive Officer of the Northern Central and Eastern Europe Region
Age: 55
Chief Executive Officer of Axa Japan
Age: 46
Compensation as of Fiscal Year 2016.

AXA Equitable Life Insurance Company Key Developments

AXA Equitable Life Insurance Company Announces Resignation of Henri De Castries as Chairman and Chief Executive Officer

AXA Equitable Life Insurance Company announced that Henri de Castries resigned as Chairman and Chief Executive Officer of effective September 1, 2016. In connection with his resignation from company, Mr. de Castries is also resigning from the Board of Directors of the company .

AXA US Wins Fee Litigation

After five years of litigation culminating in a 25-day trial, a New Jersey federal court granted AXA Equitable Life Insurance Company ('AXA Equitable') and its wholly-owned subsidiary, AXA Equitable Funds Management Group, LLC ('FMG LLC' and together with AXA Equitable, 'AXA US'), a significant victory in ruling that AXA US did not receive excessive compensation for managing and administering certain of its mutual funds. In the matters entitled Mary Ann Sivolella v. AXA Equitable Life Insurance Company and AXA Equitable Funds Management Group, LLC and Sanford et al. v. AXA Equitable Funds Management Group, LLC (Civil Action No. 3:11-cv-04194 (D.N.J.)). In a lengthy 159-page opinion, Judge Peter G. Sheridan meticulously detailed the Court's decision that plaintiffs had failed to meet the burden of proving their case. With respect to the primary allegations made by plaintiffs that FMG LLC charged 'exorbitant fees' while delegating 'all of the services' to sub-advisers or a sub-administrator for a 'nominal amount' and that the EQAT Board was not impartial, careful or conscientious in approving the advisory and administrative services fees charged, the Court found 'that FMG continued to perform significant administrative and investment management duties, despite the fact that some were delegated to subs.

Emerson Scott Sues Axa Equitable Life Insurance over Excessive Premium Increases

Emerson Scott filed on behalf of all owners of Athena Universal Life II policies issued by AXA Equitable Life Insurance Company that were subjected to a cost of insurance rate increase announced by AXA on or about 15 October 2015. The insured's claimed that they had observed sudden increases in their monthly deductions withdrawn from accumulation accounts and/or were hit with premium bills that increased massively and unexpectedly. The policy holders have also accused AXA Equitable Life Insurance Company of massively increasing their premiums and falsely stating that the increase was permitted by the policy terms. Plaintiffs allege that AXA's real reason for the premium increase was to subsidize its cost of meeting its interest guarantee, to recoup past losses on the policies and on its investment portfolio, and to make the polices more profitable by inducing policy terminations by those policyholders who could not afford the increase. The insureds have sought damages and equitable relief to reverse this massive increase in premiums either through monthly deductions withdrawn from their accounts each month or premium billings.

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