AXA, which started as a sleepy collection of mutual insurance companies, is today one of the world's largest insurers and a financial management powerhouse. In addition to its strong presence in France, AXA owns US-based AXA Financial, which controls life insurance firm AXA Equitable and investment manager AllianceBernstein. The company also has major subsidiaries in the UK (AXA UK), Germany (AXA Konzern), Japan (AXA Life), and Belgium (AXA Belgium). The AXA companies offer life insurance, personal and commercial property/casualty insurance, financial services, and asset management services. AXA has about €1.3 trillion in assets under management.