AXA’s Gerard de La Martiniere to Head French Insurance Organization; Denis Duverne Elected to Board

May 14, 2003

Gerard de La Martiniere, the member of AXA’s Management Board in charge of Finance, Control and Strategy has been elected Chairman of the French Federation of Insurance Companies (F.F.S.A.), effective immediately, and has consequently resigned his position with the giant French insurer. He replaces Denis Kessler, who resigned as FFSA head last December to head France’s SCOR Group.

AXA has named Denis Duverne, a member of the Management Board since last February 2003 and deputy to Gerard de La Martiniere since January 2000, as his successor.

“Since his appointment at AXA in December 1989, Gerard de La Martiniere occupied various executive functions at AXA S.A., the holding company of the AXA Group,” said the company’s announcement. “During this period he participated in the strategic alignment and construction of AXA as a global group of Financial Protection and Wealth Management. Gerard de La Martiniere joined AXA’s Management Board in January 1997 when the Group structure was changed following the UAP acquisition.”

AXA’s Chairman Henri de Castries, stated: “I salute the exceptional contribution of Gerard de La Martiniere to the construction of the AXA Group. The intelligence of his analysis and the wisdom of the decisions he took during these years have been a great support to the Group. I wish to express my warmest thanks to him on behalf of the entire Management Board and my best wishes for the success of the duties that will be his as Chairman of the FFSA.”

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