AXA is an insurance company established in 1817 by Claude Bebear. This company is headquartered in Paris, France. AXA has been operational for the last two centuries.
AXA’s history and philanthropic activities
AXA was initially known as the Mutual Life Insurance Company, and when it acquired Compagnie Parisienne de Garantie, it changed its name to Mutuelles Unies. In 1982, this company bought Drouot Group, its rival company. This purchase resulted in the modification of the company’s name to Mutuelles Unies/ Drouot. Upon realizing that these French names were hard to pronounce, the then CEO Claude Bebear changed the company’s name to AXA.
In 1991, AXA acquired Equitable Life Insurance Company, an insurance firm founded by a Henry Hyde, a former employee of AXA. For years, this company continued to buy out all its competitors expanding its business across France. In 2016, AXA was named the first insurance brand in the world. This company has branches in North America, Europe, Africa, Asia-pacific area, and parts of the Middle East. AXA is involved in a variety of social and artistic initiatives. In 2008, this company launched AXA Research Fund and endowed it with a hundred million Euros. This foundation funds research that concentrates on developing strategies for preventing life-threatening conditions.
Who is Vincent Parascandola?
Vincent Parascandola is one of the Senior Vice Presidents of the renowned AXA U.S. Parascandola is experienced in asset management, financial services, retirement planning, and life insurances. He has a degree in computer science from Pace University. Parascandola’s career began nearly three decades ago. His first job was at Irving Trust Company in 1986 as a system analyst. Two years later, he was employed at Prudential Insurance as an agent. In this company, he acquired skills in insurance policies and management. In 1990, Parascandola took up a job as a financial professional at The MONY Group. He rose above ranks and became the field vice president of the firm in 1998.
In 2005, AXA Equitable appointed him to serve as the company’s executive vice president. Later on, Parascandola became the head of the Advantage Group. By 2013, Parascandola was the chief sales officer and the chairperson of the continental division.