Mutuelle de L’assurance contre L’incendie was the original name of the corporation we know as AXA today. It was founded way back in 1816 and underwent several name changes that were equally a mouth full for most people to pronounce. Then finally in 1985, the people at the top settled with its current name, AXA. The reason for this was to give the company a name that virtually anyone, regardless of their cultural background, could pronounce. Today AXA has gone on to become one of the largest insurance and financial services company in the world. It achieved this mainly through acquisitions of similar companies around the globe. However, the main presence is in the European Union and North America. It also has a sizable presence in Asia and the Middle East.
Today, the number of employees including all the AXA’s business interest is approximately 166,000. As far financial services go AXA currently manages nearly $540 billion and has been giving financial advice 150 of its 200 years of operation. With all these incredible numbers, it is easy to see why AXA has grown to become one of the oldest, largest and most trusted corporations in the world. With all this success, AXA does its own share in philanthropy. The company has named it Corporate Responsibility, or CR. It is founded on six principles, responsibility at the workplace, in customer relations and products, governance model, supplier selection and relations, environmental footprint and civil society. Furthermore, AXA has earmarked a 100 million Euros towards research of environmental issues and risks facing society and human life.
In 2014 AXA appointed Vincent Parascandola as the senior executive vice president of financial services. He joined the company in 2004 and brings years of experience with him in various fields such as financial services, retirement planning, estate planning, asset management, life insurance etc.
Mr.Parascandola graduated from Pace University, New York, and joined Prudential Financial Inc. in 1987 and within a year earned the “Rookie of the Year” Prize. From there he moved onto MONY Life Insurance Company where he wore many hats before moving onto AXA.