1、A NNUA L R E P O RT 20 07D OCUM EN T D E RFREN C Ew w w.a xa.co mA X A D O CU M EN T D E R F R EN C E A N N UA L R E P O RT 2007Reference:952878/03-08Table of contentsPART I CERTAIN PRELIMINARY INFORMATION ABOUT THIS ANNUAL REPORT 11.1 Presentation of Information 11.2 Exchange Rate Information 21.3
2、Cautionary statements concerning the use of non-GAAP measures and forward looking statements 2PART II THE AXA GROUP:OUR GLOBAL BUSINESS OPERATIONS,RECENT FINANCIAL PERFORMANCE AND FINANCIAL CONDITION 32.1 Selected Consolidated Financial Data 42.2 Information on the Company 92.3 Activity Report 442.4
3、 Liquidity and Capital resources 110PART III CORPORATE GOVERNANCE,EXECUTIVE COMPENSATION,MAJOR SHAREHOLDERS AND RELATED MATTERS 1153.1 Directors,Senior Management and Employees 1163.2 Full disclosure on executive compensation and share ownership 1323.3 Description of the Companys share repurchase pr
4、ogram 1543.4 Major Shareholders and Related Party Transactions 1563.5 The Offer and Listing 162PART IV RISK FACTORS,CERTAIN DISCLOSURES ABOUT MARKET RISKS AND RELATED MATTERS 1654.1 Risk Factors 1664.2 Quantitative and Qualitative Disclosures About Market Risk and Risk Factors 1764.3 Certain financi
5、al information 195PART V CONSOLIDATED FINANCIAL STATEMENTS 197PART VI CERTAIN ADDITIONAL INFORMATION 379APPENDICES 389Pursuant to the article 212-13 of the AMF General Regulations,this Annual Report has been filed with the AMF on March 28,2008 and may,as a consequence,be used in connection with a fi
6、nancial transaction provided it is accompanied by a prospectus registered with the AMF.This is a free translation into English of the French Annual Report filed with the Autorit des marchs financiers(AMF)and which is provided solely for the convenience of English readers.ConceptionW PRINTELRealisati