1、2005 annual reportDirection de la Communication et de la Marque25,avenue Matignon 75008 Paris FranceDocument de rfrence Document de rfrence 2005Rfrence:702253/04-06 Conception:Ralisation:DESIGN MEDIA 01 40 55 16 66contentsAXA Group History and development4Simplified organization chart6AXA stock pric
2、e8Financial highlightsFinancial highlights12Ratings16Legal information Corporate Governance20Internal control procedures40Full disclosure on executive andemployees compensation and share in capital55Principal statutory information concerningthe Company76Information concerning the share capitalof the
3、 Company78Other legal information88Financial information Description of business99Investment Strategy and Capital Resources 125Risk factors133Activity Report157Consolidated Financial Statements231Other Supplementary Financial Information395Parent Company400Embedded value 413Salaried employees 418Sig
4、nificant event known sebsenquentlyat the year end closing 419Person responsible and the independent auditors Person responsible for the Annual Report422Independent auditors423Correspondence table425 110,000employees and distributors mobilized around the world.51.5millionclient across the globe trust
5、 in AXA.72 billioneuros in consolidated revenues.+5.2%on a comparable basis.15,000employees volunteerin their local community.3.3billion euros in underlying earnings All around the world,we deliver our products and services under a global brand.Combined with our tagline Be Life Confidentthe AXA bran
6、d conveys our promise to customers:we will protect them and help them realize their projects at every stage of their lives.+24%at a constant exchange rate.4.2billion euros in net income,Group share.+12%at a constant exchange rate.Be Life Confident1,064billioneuros in assets under management.+22%AXA