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Komi Travel on HUSSAIN, PH.D. UNIVERSITY OF WISCONSIN, OSHKOSH Aviva 63 AXA WHEN CLAUDE BÉBÉAR TOOK OVER at Anciennes Mutuelles, a regional French insurer, no one would have believed that it would one day be one of the world's major financial companies. Bébéar made a reputation for acquiring distressed companies, making a specialty of turning around businesses that others thought were hopeless. His first large coup was taking over Drouot, one of FRANCE's largest insurers, in 1982 even as the newly elected government mulled nationalizing the industry.
In 1985, he renamed the company, foreseeing a world financial role: AXA is not an abbreviation but a simple name that can be pronounced in many languages. In 1991 AXA made its first large foray into the United States, securing the Equitable (hit by huge losses in real estate and junk bonds) with its Donaldson, Lufkin & Jenrette trading group. Komi Travel 2016.