AXA BRAIN Library

A good CEO is not a micromanager but a 'Chief Excitement Officer' or 'Engagement Officer'

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AXA fundamentals

people / leading figures ▸ Claude Bébéar Henri de Castrie Thomas Buberl / board of directors ▸ Antoine Gosset-Grainville Guillaume Faury Angelien Kemna see all ▸ / management committee ▸ George Stansfield Guillaume Borie Patrick Cohen see all ▸ / partners group ▸ Etienne Bouas Laurent Renaud Guidée Tara Foley see all ▸

regions / Europe ▸ France Germany Switzerland Luxembourg Italy Spain UK Ireland Turkey / AXA XL ▸ XL Bermuda XL Reinsurance XL America see all ▸ / Asia ▸ Japan Hong Kong China Indonesia Thailand Philippines South Korea / Latin America ▸ Brazil Colombia Mexico / transversals ▸ AXA Partners AXA GO

results / press release ▸ 2025 2024 2023 see all ▸ / analyst presentation ▸ 2025 2024 2023 see all ▸ / financial supplements ▸ 2025 2024 2023 see all ▸ / activity report ▸ 2025 2024 2023 see all ▸ / annual report ▸ 2025 2024 2023 see all ▸ / SFCR ▸ 2025 2024 2023 see all ▸

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Insurance fundamentals

fundamentals / risk basics ▸ Frequency vs severity Hazard, exposure, peril Correlation & aggregation / how insurance works ▸ Pooling & risk transfer Indemnity vs benefits Premium now, claims later / incentives & frictions ▸ Adverse selection Moral hazard Information asymmetry / industry structure ▸ Insurers, mutuals, captives Brokers, MGAs, TPAs Reinsurers & retro / policy essentials ▸ Insurable interest, good faith Coverage, exclusions Limits & deductibles / core metrics ▸ Loss, expense, combined Persistency & lapse Acquisition economics / time value ▸ Discounting Trend & social inflation Duration risk / Cat & systemic ▸ Nat Cat accumulation Pandemic risk Cyber contagion / role & trust ▸ Protection & resilience Fairness & inclusion Conduct & transparency

products / life ▸ Term, whole, UL Mortality & lapse Riders / health ▸ Medical vs income protection Group vs individual Utilization levers / annuities ▸ Immediate vs deferred Guarantees Longevity risk / group benefits ▸ Plan design Experience rating Renewals / personal lines ▸ Motor & home Rating factors Claims inflation / commercial lines ▸ Property & liability Limits & towers Risk engineering / specialty ▸ Marine, aviation, energy Financial lines Parametric / Underwriting gov ▸ Appetite & authority Quote to bind Portfolio steering / lifecycle ▸ Design & pricing Wording & filings Monitoring & remediation / policy admin ▸ Issuance & endorsements Billing Retention

distribution & ops / channels ▸ Agent/broker/bank Direct & digital Embedded & partners / sales & advice ▸ Needs & suitability Tools & disclosures Conversion levers / intermediary econ ▸ Commissions & clawbacks Conflicts control Delegated authority / onboarding ▸ KYC/AML basics Fraud screening Consent & privacy / Underwriting ops ▸ STP vs manual Evidence mgmt QA & audits / claims ops ▸ FNOL & triage Settlement & leakage Litigation & recovery / fraud mgmt ▸ Detection & SIU Provider fraud Recoveries / service model ▸ Shared services Outsourcing risk SLAs & outcomes / tech & data ▸ PAS, claims, billing CRM & omni-channel Platforms & APIs / productivity ▸ Cost-to-serve Automation Ops KPIs

finance & actuarial / pricing ▸ Expected loss & margin Credibility Price adequacy / reserving ▸ Case vs IBNR Triangles & diagnostics Reserve risk / life liabilities ▸ Assumptions & margins Options & behavior New business strain / reinsurance ▸ Proportional vs non-prop Retentions & limits Credit & collateral / ALM ▸ Portfolio basics Duration & liquidity Credit risk / performance ▸ Underwriting result Operating vs net income Key ratios / accounting ▸ IFRS 17 IFRS 9 Statutory bases / solvency ▸ Available vs required Economic capital Stress tests / steering ▸ Growth vs value Re-pricing actions Scenario planning / model gov ▸ Assumption control Validation Data governance

regulation & gov / purpose ▸ Protection Stability Integrity / prudential ▸ Solvency II & RBC ORSA Supervisory reporting / conduct ▸ Product governance Claims standards Fair value / supervision ▸ Entity structures Intra-group flows Recovery & resolution / gov model ▸ Board oversight Three lines Internal audit / compliance ▸ AML/CTF Sanctions Third-party risk / tax ▸ Premium taxes Deferred tax Cross-border issues / ESG ▸ Underwriting & investment Disclosures Transition risk / resilience ▸ Cyber security Operational resilience Data privacy / emerging ▸ Cyber & systemic Insurtech & embedded Alternative capital

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Competitors

europe / France ▸ Crédit Agricole Assurances CNP Assurances Groupama Crédit Mutuel Alliance Fédérale (GACM) BNP Paribas Cardif / Germany ▸ Allianz Munich Re (ERGO Group) Talanx (HDI) R+V Versicherung Generali Deutschland / Switzerland ▸ Schweizerische Mobiliar Zürich Versicherung (Zurich) Allianz Suisse Helvetia Bâloise (Basler) / Luxembourg ▸ Foyer Assurances LALUX (La Luxembourgeoise) Bâloise Assurances Luxembourg Allianz AIG / Italy ▸ Generali Intesa Sanpaolo Vita Poste Vita Allianz Unipol / Spain ▸ MAPFRE VidaCaixa (CaixaBank Group) Mutua Madrileña Allianz Seguros Grupo Catalana Occidente (GCO) / UK ▸ Aviva Legal & General Prudential Zurich Insurance UK Allianz Insurance / Ireland ▸ Irish Life Group Zurich Insurance plc (Ireland) Aviva Life & Pensions Ireland New Ireland Assurance Royal London Ireland / Turkey ▸ Türkiye Sigorta Allianz Sigorta Anadolu Sigorta Sompo Sigorta Aksigorta

reinsurance & bermuda / Bermuda market ▸ AXA XL XL Bermuda Everest Re RenaissanceRe Arch Capital (Arch Re) PartnerRe Aspen / Global Re ▸ XL Reinsurance Munich Re Swiss Re Hannover Re Berkshire Hathaway (reinsurance) SCOR

north america / United States ▸ XL America Travelers Chubb Liberty Mutual Berkshire Hathaway Zurich

asia / Japan ▸ Nippon Life Dai-ichi Life Tokio Marine Sompo MS&AD (Mitsui Sumitomo) / Hong Kong ▸ HSBC Life (International) AIA International Prudential (HK) Life BOC Life Manulife (International) / China ▸ China Life Ping An PICC (People’s Insurance Company of China) CPIC (China Pacific Insurance) New China Life / Indonesia ▸ Prudential Indonesia AIA Financial Manulife Indonesia Allianz Life Indonesia Sun Life Indonesia / Thailand ▸ AIA Thailand FWD Life Thailand Thai Life Insurance Muang Thai Life Assurance Allianz Ayudhya / Philippines ▸ Sun Life Pru Life U.K. Manulife AIA Philippines FWD / South Korea ▸ Samsung Fire & Marine Hyundai Marine & Fire DB Insurance Meritz Fire & Marine KB Insurance

latin america / Brazil ▸ BrasilSeg Bradesco Seguros SulAmérica Porto Seguro Caixa Seguridade / Colombia ▸ Grupo Sura Seguros Alfa Seguros Bolívar Allianz MAPFRE / Mexico ▸ GNP Seguros MetLife México BBVA Seguros Banorte Seguros Quálitas

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Case studies

capital / M&A ▸ Generali–Cattolica (2022) Allianz–Aviva Poland (2021) Chubb–Cigna A&H APAC (2022) / carve-outs ▸ AIG → Corebridge IPO (2022) Prudential → Jackson demerger (2021) Allianz sells UniCredit Allianz Vita stake (2025) / buybacks ▸ Allianz €1.5bn buybacks (2024) Zurich CHF 1.1bn buyback (2024) Travelers $5.04bn repurchase capacity (end-2024)

risk / cyber ▸ Zurich–Mondelez NotPetya settlement (2022) Merck vs Ace (war exclusion rejected, 2023) Lloyd’s “state-backed” cyber exclusions (from 2023) / Cat & ILS ▸ Allianz €250m windstorm cat bond (2023) Munich Re retro + sidecars ($1.55bn, 2025) Hannover Re cloud-outage cat bond (2024) / BI disputes ▸ FCA BI test case (UKSC, 2021) ExCel Centre appeal win (UK CA, 2024) UK CA on furlough set-offs (2025)

tech / claims AI ▸ Allianz “Insurance Copilot” (auto claims, 2024) Zurich AI claims escalation prediction (2024) Chubb + Cytora claims doc automation (2024) / GenAI assistants ▸ AllianzGPT (internal, 2025) Generali KAssis (claims knowledge, 2025) Generali “Chatty” (customer chatbot, 2023–24) / telematics ▸ Progressive Snapshot (UBI, 2011) Generali–Telepass “Next” (2022) Allianz–Ticker pay-per-mile (2025)

distribution / bancassurance ▸ Allianz–UniCredit framework (2022) Zurich–Santander LatAm JV + 25-year tie-up (2011) BNP Paribas ↔ Ageas / AG Insurance reshuffle (2025) / embedded platforms ▸ Chubb Studio AI embedded engine (2025) Zurich buys AIG Travel + merges with Cover-More (2024) Munich Re buys relayr (2018)

climate / coal & fossil rules ▸ Allianz coal phase-out thresholds (2025) Generali coal phase-out (2030/2040) Zurich “no new fossil” positioning / transition & resilience ▸ Zurich + Aon hydrogen insurance platform (2024) Generali expands oil/gas exclusions (2024) Swiss Re nat-cat loss benchmark (sigma 1/2024)

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Skill development books

communication & presence / conversations & feedback ▸ Crucial Conversations Difficult Conversations Thanks for the Feedback Radical Candor / storytelling & thinking ▸ The Pyramid Principle Made to Stick Storytelling with Data Talk Like TED / writing & clarity ▸ HBR Guide to Better Business Writing Smart Brevity On Writing Well The Elements of Style

influence & stakeholders / persuasion ▸ Influence Pre-Suasion Influence Without Authority The Art of Woo / negotiation ▸ Getting to Yes Never Split the Difference Bargaining for Advantage The Power of a Positive No / conflict & alignment ▸ Crucial Confrontations The Conflict Code The Anatomy of Peace The Catalyst

leadership & people / coaching & dev ▸ The Coaching Habit Multipliers The Making of a Manager Turn the Ship Around! / teams ▸ The Five Dysfunctions of a Team Team of Teams Drive The Culture Code / change & execution ▸ Leading Change Switch The First 90 Days Accelerate

collaboration & culture / cross-cultural ▸ The Culture Map Leading with Cultural Intelligence When Cultures Collide Riding the Waves of Culture / inclusion & safety ▸ The Fearless Organization The Person You Mean to Be Blindspot Inclusify / remote & hybrid ▸ Remote The Long-Distance Leader Digital Body Language Suddenly Virtual

effectiveness & resilience / time & focus ▸ Getting Things Done Deep Work Essentialism Atomic Habits / decision making ▸ Thinking, Fast and Slow Decisive Superforecasting The Scout Mindset / resilience & stress ▸ Mindset The Upside of Stress Resilient Search Inside Yourself

customer & trust / empathy & service ▸ The Effortless Experience Outside In Hug Your Haters Unreasonable Hospitality / trust & relationships ▸ The Speed of Trust The Trusted Advisor Give and Take Dare to Lead