AXA, which actually does not stand for anything but was chosen because it is easily pronounceable in most languages, is an insurance and asset management company that is based out of Paris. The company can trace its history back to 1816 when the Mutuelle de L'assurance contre L'incendie was established. The company would grow and expand, acquiring Compagnie Parisienne de Garantie in 1978 and renaming itself Mutuelles Unies. The company would then merge with the Drouot Group in 1982, again changing its name to Mutuelles Unies/Drouot The company would finally adopt the name that it is known as today, AXA, in 1985. The company conrinued acquisitions, including The Equitable in 1991, Union des Assurances De Paris in 1996, Guardian Royal Exchange in 1999, and Winterthur Group in 2006, among others. The company currently offers a variety of services and products through its subsidiaries. AXA operates through its five main segments. The Life & Savings segment offering term life, whole life, endowment, annuities, critical illness insurance, permanent health insurance, and other related products. The Property & Casualty segment providing motor, property, engineering services, general liability insurance, and other related products. The International Insurance segment offers property damage, motor fleet, construction risks, aviation marine, liability, loss prevention, and other risk management and assistance services. The Asset Management Segment offers fundamental research, quantitative services, brokerage, investment management, and other related services. The Group Banking segment offers retail making, savings products, and mortgage loans, among other products. AXA currently has primary operations in Western Europe, North America, the Asia Pacific, and the Middle East, although it has a global presence. The company has over $1.3 billion in total assets under management and brings in an annual revenue of over $100 billion, currently employing over 161,000 people located around the globe as of 2015. Some of the mutual funds available through its subsidiary AXA Advisors include high yield bond funds, money market funds, global and international funds, growth and income funds, and many others.