AXA Equitable

Equitable's roots reach back to 1859, when it was incorporated in New York as The Equitable Life Assurance Society of the United States.[1] In the early 20th century it pursued a mutual structure, completing its conversion to a mutual life insurer by the mid-1920s.[1] That mutual era shaped a culture focused on long-duration liabilities, conservative reserving, and product designs intended to last through multiple economic cycles.[1]

The modern chapter began in the early 1990s. In 1992, Equitable demutualized and became a stock company, with AXA emerging as a major owner.[1] Over the next decade, AXA increased its control, and the company operated for years under the AXA Equitable name.[1] The 2000s and 2010s brought heightened risk-management expectations after the 2008 crisis and continued emphasis on retirement-oriented solutions, including annuities and investment-linked life products.[1]

Starting in the late 2010s, AXA reduced its ownership and the company returned to its Equitable brand, legally changing its name to Equitable Financial Life Insurance Company in 2020 and completing AXA's divestiture in 2021.[1] The result is a legacy insurer that repeatedly reinvented its ownership and branding while maintaining a long-running focus on retirement and protection markets.

Sources: [1] New York State Department of Financial Services, Examination Report for Equitable Financial Life Insurance Company (corporate history, demutualization, name changes, and ownership): https://www.dfs.ny.gov/system/files/documents/2022/11/62944fc20.pdf.