One of the recent trends in New Zealand (and Australia) appears to be the beginning of the "privatisation" of the large mutual life insurance companies which have for many years dominated that industry here. The first is the Australian-based National Mutual Life Association which is the second biggest life insurance company in Australasia (Australia + New Zealand). In February it announced it has sold a 51% controlling interest to the French insurance group AXA for $A1.1 billion. The remainder will go to the 1.3 million policy holders as conventional shares. NMLA has assets of $A26b. Has anyone any information on AXA they can give me? The publicity material says that AXA has assets of $A330b covering 16 counties in Europe, North America and Asia. It claims to be the third largest insurer in Europe. It has a 60% interest in The Equitable Life Assurance Society, the sixth largest life insurer in the US. It says its main interest in NMLA is its Asian business. NMLA will become AXA's Asia- Pacific branch and hand NMLA its existing Asian business. Bill
