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August 28, 2015 11:05 AM ET

Insurance

Company Overview of AXA Equitable Life Insurance Company

Company Overview

AXA Equitable Life Insurance Company, together with its subsidiaries, provides financial advisory, insurance, 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, asset management, and other services to individuals, small and medium-size businesses, and professional and trade associations on retail bas...

1290 Avenue of the Americas

New York, NY 10104

United States

Founded in 1859

3,781 Employees

Phone:

212-554-1234

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: 57
Chief Financial Officer and Senior Executive Director
Age: 47
Chief Operating Officer and Senior Executive Director
Age: 56
Director, Member of Executive Committee, Member of Investment Committee, Chairman of AXA and Chief Executive Officer of AXA
Age: 61
Chief Executive Officer of AXA Technology Services and President of AXA Technology Services
Compensation as of Fiscal Year 2015.

AXA Equitable Life Insurance Company Key Developments

AXA Equitable Life Insurance Company Announces Retirement of Danny L. Hale from the Board of Directors

Effective May 20, 2015, Danny L. Hale retired from AXA Equitable Life Insurance Company Board of Directors. Mr. Hales's departure was not as a result of any disagreement with the Company or any matters relating to the Company's operations, policies or practices.

MetLife Inc., AXA Equitable Life Insurance Co. and Lincoln National Corp. Face Class-Action Lawsuits over Shadow Insurance Allegations

MetLife Inc., AXA Equitable Life Insurance Co. and Lincoln National Corp. are facing class-action lawsuits related to certain practices involving reinsurers. MetLife and AXA Equitable each face two lawsuits, while Lincoln National is facing one. Four of the cases were reportedly filed in the U.S. District Court in New York, while the fifth was filed in the U.S. District Court in New Jersey. Plaintiffs in the lawsuit against Lincoln National alleged that the insurer used a practice called two-step transactions through which it was able to hide its shadow insurance practices. The law suit, in such a transaction the New York-based insurance company transfers risk to its non-New York-based affiliate. The affiliate then retrocedes such risk to a captive reinsurer affiliated with the original New York-based company. That process allows the New York-based insurance company to report that it did not transact directly with the captive, the news outlet said. The suit against Lincoln National further claims that this practice allowed the company to use assets to pay higher salaries to executives, acquire other life insurers or declare higher dividends instead of preserving such assets to pay claims. One of the lawsuits against AXA Equitable reportedly alleged that the insurer engaged in shadow insurance practices related to its life insurance business, resulting in materially misleading representations of its financial condition. The other lawsuit, which pertains to the company's variable annuity business, alleges that the company's shadow insurance practices resulted in misrepresentations about its financial condition, which it used to market guaranteed benefits insurance riders and other life insurance products. In one of the complaints against MetLife, it is alleged that the company is engaging in practices that places the financial futures of its policyholders, their beneficiaries and even the public at risk.

AXA Equitable Life Insurance Company and MONY Life Insurance Company of America Expands its Global Employee Benefits Footprint with Entry into US Market; Announces Executive Appointments

AXA S.A. is further extending its footprint into the United States with the launch of its U.S. Employee Benefits business, through subsidiaries AXA Equitable Life Insurance Company and MONY Life Insurance Company of America. This market entry builds on AXA S.A.’s expertise as a employee benefits insurer around the world, where it protects more than a million employees. AXA S.A. will apply this knowledge and experience as it develops its U.S. offering – a suite of benefits products scheduled to begin rollout in mid-2015, including group life insurance, dental and vision, short and long-term disability, gap medical and hospital indemnity, and critical illness. AXA extensively researched the U.S. market opportunity and found that one segment – small- to medium-sized businesses with 20 to 500 employees, remains underserved. These businesses and their employees comprise roughly half of the expanding U.S. employee benefits market, which is undergoing transformation following the implementation of the Affordable Care Act. The company has assembled a highly experienced leadership team led by Hervé Balzano, a 15-year veteran of AXA S.A. and AXA France, who has a proven track record of founding and growing employee benefits businesses in markets around the world. Balzano was previously head of AXA S.A.’s International Employee Benefits business and president of the MAXIS Global Benefits Network. Balzano is joined on the AXA Employee Benefits leadership team by: James Long, Head of Distribution. Long leads the creation of AXA’s national and regional structure for distributing AXA’s suite of employee benefits products and services to independent brokers, general agents and AXA’s retail network of AXA Advisors, LLC. financial professionals. Leann Bohner, Head of Operations & Technology. Bohner leads the team responsible for developing AXA’s differentiating digital experience serving AXA’s targeted clients – independent brokers and general agents, employers and employees. She also is charged with building, from the ground up, AXA’s future-ready technology infrastructure and services. Amanda Turcotte, Chief Actuary and Head of Product, Pricing & Underwriting. Turcotte leads the team responsible for designing and bringing AXA’s Employee Benefits product suite to market. Previously, Turcotte was senior director & actuary of AXA’s Financial Protection & Wealth Management business, responsible for research and development to create life insurance products and entering new markets.

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