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Partner News: An AXA Update from Brian Winikoff

As you may have seen this week, AXA announced its intention to IPO its US operations. The US listed company will hold 100% of AXA Financial, Inc., which includes all of AXA’s US Life, Retirement and Wealth Management businesses, and AXA’s approximately 64% ownership stake in AllianceBernstein, L.P., a leading asset manager. Following the public offering, which is expected to take place in the first half of 2018 (subject to market conditions), our parent company, AXA Group, will continue to own the majority of AXA US’ stock.

AXA US is one of the leading diversified financial institutions in the United States with over 2.5m customers and more than $500bn in assets under management. As a US listed company, we expect to benefit from enhanced strategic flexibility, visibility, and stronger growth prospects, driven in part by new opportunities to expand our product offerings in certain markets. In turn, as discussed in AXA’s press release, our parent company, AXA Group, intends to reinvest the proceeds from the sale in high priority segments across the globe.

We want you to know, this anticipated stock market listing will not change our focus on our core markets, products or distribution partners, or change the way we do business. We remain committed to the US life insurance, individual annuity, retirement plan, employee benefits, wealth management and asset management markets, and plan to continue to grow our distribution by investing in our third-party relationships.

Additionally, we remain committed to maintaining our financial strength  –– there is nothing more important than honoring our promises to our customers. We have reviewed the prospective initial public offering with our rating agencies, and we have maintained strong credit ratings with all of the major agencies. Our updated financial strength ratings for our two insurance operating entities are as follows:

  AM Best Fitch Moody’s S&P
AXA Equitable A A+ A1 A+

While we are excited about this potential stock market listing, we will remain focused on running our day-to-day business and serving our partners and customers.

Thank you for your business and your continued support.

Brian Winikoff
Head of US Life, Retirement and Wealth Management

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