Thomas Buberl, (Photo: Jasper Juinen/BB
AXA executives held a conference call with securities analysts earlier this week to talk about the company's plans to buy XL Group, a reinsurer, for $15.3 billion.
Some of the analysts asked Thomas Buberl, AXA's chief executive officer, and other AXA executives about AXA's plans to sell stock in AXA Equitable to the public, through an initial public offering (IPO).
That deal raises the possibility that Equitable, which is based in New York, was once one of the dominant players in the U.S. life insurance market, could get more independence from its corporate parent.
(Related: AXA Talks More About U.S. Life Spinoff)
Here are three of the executives' answers, based on a transcript of the conference call filed with the U.S. Securities and Exchange Commission.
- When will the IPO really take place?
The company has talked about completing the IPO "in the second quarter" — by June 30.
Gérald Harlin, AXA's chief financial officer, said the actual timing of the IPO will depend on market conditions.
"We are not in a rush here," Harlin said. "It could be in two or three years. The most important point is that we have no constraints."
2. How much of AXA Equitable's stock does AXA intend to sell?
About a year ago, AXA executives said they were thinking of selling a minority stake in AXA Equitable.
