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