Insured Profile Report – Professional Liability Focus

AXA Group ______

Company Profile

Location 25 Avenue Matignon Paris, www.axa.com Company Type Public

Formerly Known As N/A

SIC Code 6311 SIC Code Description Life Insurance

Established N/A

Sales (in millions) $161,447.90 Employees 102957

Total OSHA Violations 3

OSHA is an arm of the Department of Labor that conducts inspections of company facilities with the goal of preventing work-related injuries, illnesses and deaths. Worksites that do not meet health and/or safety standards at the time of inspection may Credit Details receive an OSHA violation. Total FDA NDC Drugs N/A Number of Legal Derogatory N/A Items The total number of FDA Drugs filed in the FDA NDC Drug Database. Liability Amount N/A Business Description

AXA Group is the holding company for an international financial services Experian Intelliscore N/A group focused on financial protection. AXA is the holding company of the AXA Group. It operates through five business segments: Life & Savings, Experian Credit Rating N/A Property & Casualty, International Insurance, Asset Management and Banking. The Life & Savings segment offers a range of life and savings products, including individual and group savings retirement products, life Experian Intelliscore Percentile N/A and health products. The Property & Casualty segment includes a range of products, including mainly motor, household, property and general liability Experian Commercial IntelliscoreSM is an all-industry commercial model insurance for both personal and commercial customers. The International using business information to predict business risk. Its predictiveness is Insurance segment's operations include insurance products that among the best on the market today specifically relate to AXA Corporate Solutions Assurance. The Asset -Predicts the likelihood of accounts experiencing seriously derogatory Management segment includes diversified asset management (including payment performance in the next 12 months investment fund management) and related services. The Banking Segment includes banking activities conducted primarily in France and Belgium. -Produce scores ranging from 0 to 100, where high scores equal low risk -Based on past credit behavior, including payment behavior, balance information,amount of trade activity, public record incidence and Top Competitors in the Country business size Company Name Sales Employees -Liability amount is the total dollar amount of debtor’s legal liability, (in millions) including accounts in collection, tax liens,judgments and/or bankruptcies -The total derogatory items are the sum of Tax-Lien Count, Bankruptcy, AXA Group $161,447.903 102957 Judgment, Collection-Counter and UCC Derog CNP Assurances $58,675.730 4537

Key Personnel Name Age Title Officer Since Henri de Castries 57 Chairman N/A Mr. Henri De Castries has served as Chairman of the Management Board, Member of the Executive Committee and Chief Executive Officer of AXA since May 2000. He was appointed to the Company's Management Board on January 19, 2000. He began his career in 1980 at the French Finance Ministry Inspection Office where he audited government agencies. In 1984, he moved to the French Treasury Department, where he played an active role in several privatizations. In 1989, Mr. De Castries joined AXA's corporate finance division, and in 1991, he was appointed Corporate Secretary, responsible for dealing with the legal aspects of the reorganization and merger of Compagnie du Midi with and into the AXA Group. Between 1993 and 2000, he served as Senior Executive Vice President for the Group's asset management, financial and real estate businesses. In 1994, he assumed the additional role of overseeing North American and UK operations. In 1996, he played an active role in preparing for the UAP merger, and in 1997, he was appointed Chairman of the Equitable Companies Incorporated, which later became AXA Financial. He holds various positions in the number of companies of the AXA group, including Chairman of the Board of Directors of AXA Assurances IARD Mutuelle, AXA Assurances Vie Mutuelle and AXA Financial, Inc. He studied Law and graduated from Hautes Etudes Commerciales (HEC) and Ecole Nationale d'Administration (ENA). Norbert Dentressangle 57 Vice Chair/Deputy Chair 2010

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Mr. Norbert Dentressangle has been Vice-Chairman and Lead Independent Director of Axa SA as of April 29, 2010 and is also Chairman of the Company's Compensation and Human Resources Committee. Prior to that, he served as an Independent Member of the Supervisory Board from May 4, 2006 and as Independent Vice Chairman of the Supervisory Board from April 22, 2008. In 1979, Mr. Norbert Dentressangle founded the Norbert Dentressangle Group, a transportation and logistics services specialist, and served as its Chairman until 1998. He is currently Chairman of the Supervisory Board. Mr. Norbert Dentressangle has also been, since its creation in 1988, Chairman of Financiere Norbert Dentressangle, the family-owned holding company which, in addition to a majority stake in Groupe Norbert Dentressangle, also holds equity interests in real estate, industrial and business services firms. His other mandates currently held include Chairman of Financiere de Cuzieu (SAS) and ND Investissements (SAS), Chief Executive Officer of SOFADE (SAS) and Director of SEB and SOGEBAIL. Dominique Reiniche 56 Board Member N/A Ms. Dominique Reiniche is President - Europe Group of Coca-Cola Company. Ms. Reiniche joined the Company in May 2005 as President of the European Union Group, which was reconfigured effective July 1, 2008, to include the Adriatic and Balkans Business Unit and renamed the Europe Group. Prior to joining the Company, she held a number of marketing, sales and general management positions with CCE. From May 1998 until December 2002, she served as General Manager of France for CCE, and from January 2003 until May 2005, Ms. Reiniche was President of CCE Europe. Before joining the Coca-Cola system, she was Director of Marketing and Strategy with Kraft Jacobs-Suchard. Denis Duverne 57 Board Member 1965 Mr. Denis Duverne is Member of the Board of Directors of AXA SA as of April 29, 2010. In January 2010, he was selected to oversee AXA Group strategy, finance and operations with AXA's Chief Operating Officer, Chief Financial Officer and Chief Risk Officer reporting to him. Mr. Duverne has been a member of the AXA Management Board since February 2003. He was Chief Financial Officer of AXA from May 2003 through December 2009. From January 2000 to May 2003, Mr. Duverne served as Group Executive Vice President-Finance, Control and Strategy. He has served as Director of AllianceBernstein Corporation, the General Partner of AllianceBernstein L.P. since February 1996. Mr. Duverne joined AXA as Senior Vice President in 1995. Michel Pebereau 69 Board Member N/A Mr. Michel Pebereau has been a Member of the Supervisory Board of AXA since January 1997 and is a Member of the Company's Finance Committee and Nominating, Ethics, Governance and Human Resources Committee. He graduated from Ecole Polytechnique and Ecole Nationale d'Administration. He began his career in 1967 as Auditor at the Treasury. Between 1970 and 1974, he was Project Leader and then Adviser to the Cabinet of the Finance Minister. From 1971 to 1982, Mr. Pebereau served as Project Leader, and then, Sub-Manager, Assistant Manager and Head of the Public Revenue Department of the Finance Ministry. Between 1978 and 1981, he was also Head of the Finance Minister's Cabinet. He was later appointed Project Leader to the Minister. In 1982, Mr. Pebereau was appointed Managing Director (CEO) of Credit Commercial de France, a position he held until 1987, when he became Chairman and CEO of the same company. Between 1993 and 2000, he served as Chairman and CEO of Banque Nationale de Paris, and between 2000 and 2003, as Chairman and CEO of BNP Paribas. Since 2004, he has been the Chairman of the Board of Directors of BNP Paribas. In addition, Mr. Pebereau is Director or Member of the Supervisory Board of Saint Gobain, Total, Lafarge, EADS NV, Banque Marocaine pour le Commerce et l'Industrie and Pargesa Holding S.A., Non-Voting Director of Galeries Lafayette and Member of the Academie des Sciences Morales et Politiques. Ezra Suleiman 69 Board Member N/A Mr. Ezra Suleiman has been an Independent Member of the Supervisory Board of AXA since April 2003 and is also a Member of the Company's Audit Committee and Nominating, Ethics, Governance and Human Resources Committee. He graduated from Harvard University and Columbia University. Mr. Ezra Suleiman worked as a Professor at the University of California in Los Angeles between 1973 and 1979. Since September 1979, he has been a Professor of Political Sciences at the University of Princeton. Mr. Suleiman was also an Associate Professor of the Institut da 'Etudes Politiques in Paris. He is the Manager of European Studies Center at the University of Princeton, Director of Suez Environnement, AXA Financial, AXA Equitable Life Insurance Company, MONY Life Insurance Company and MONY Life Insurance Company of America, Chairman of the Orientation Board of Institut Montaigne, Member of the Editorial Committee of Comparative Politics, La Revue des Deux Mondes, Politique Internationale and Politique Americaine, Member of the Council on Foreign Relations and Member of the Advisory Board of HEC International. Nicolas Moreau 45 Board Member 2003 Mr. Nicolas Moreau is the Chief Executive Officer of Axa France as of October 1, 2010 and has been a Member of the Management Committee of Axa SA since April 29, 2010. He has also been a Member of the Executive Committee of Axa SA since February 26, 2003, first serving as Chief Executive Officer of AXA Investment Managers until June 30, 2006 and then as Chief Executive Officer of AXA UK-Ireland and Chairman of Board of Directors of AXA Investment Managers until October 1, 2010. Mr. Moreau is a graduate of the Ecole Polytechnique and has an Actuary's degree from the Centre d'Etudes Actuarielles. From 1988 to 1991, he was an auditor with Arthur Andersen in Paris. In 1991, he joined AXA as Vice-President of the Finance Department and was appointed Senior Vice-President of the AXA Group Finance Department in 1994. In 1997, Mr. Nicolas Moreau joined AXA Investment Managers and became Chief Executive Officer of AXA Rosenberg in 1999. In March 2000, he became Chief Operating Officer of AXA Investment Managers. He was appointed Vice-Chairman of AXA Rosenberg in January 2001. Mr. Moreau also coordinated the private equity business as well as the relationship between AXA Investment Managers and the insurance companies of the AXA Group. In April 2002, Mr. Nicolas Moreau was promoted as Chief Executive Officer of AXA Investment Managers and, following his appointment as Group Chief Executive Officer of AXA UK, he became non-executive Chairman of the Board of AXA Investment Managers. He also holds several other mandates within the Axa SA group, including Chief Executive Officer of AXA France IARD and AXA France Vie, and is also a Director of Media-Participations (Belgium). Anthony J. Hamilton 70 Board Member N/A Mr. Anthony Hamilton is an Independent Director of Axa SA as of April 29, 2010 and is also Chairman of the Company's Audit Committee and Member of the Compensation and Human Resources Committee. He previously served as a Member of the Supervisory Board of Axa SA from January 1996. He is a graduate of Oxford University. His early career was spent in London and New York working for the investment banks Schroders, Morgan Grenfell, and Wainwright. In 1978, he joined Fox-Pitt, Kelton and was appointed Chief Executive Officer in 1994. In 1993, he became a non-executive director of AXA Equity and Law plc (Chairman, 1995) and in 1997 a non-executive director of AXA UK plc. Since September 2000, Mr. Anthony Hamilton has been non-executive Chairman of AXA UK plc. He also holds other mandates, including Director of AXA Financial, Inc. (United States), AXA Equitable Life Insurance Company (United States), MONY Life Insurance Company (United States), MONY Life Insurance Company of America (United States), Golf Club of Valderrama (Spain), Tawa plc (United Kingdom), The Game & Wildlife Conservation Trust (United Kingdom). Francois Pierson 63 Board Member 1990 Mr. Francois Pierson has been a Member of the Management Committee of Axa SA as of April 29, 2010 and is fully dedicated to his role of Global Head of Axa SA's Property & Casualty insurance operations since October 1, 2010, a responsibility he took on in January 2010. Mr. Pierson is also a Member of the Executive Committee of Axa SA and from November 2001 to April 2010, Mr. FranA ois Pierson was a Member of the AXA Management Board as well as Chief Executive Officer of AXA France and responsible of the Group's Large Risks activities, AXA Assistance and AXA Canada. He remained as Chief Executive Officer of AXA France until October 2010 and he currently keeps direct management responsibility of AXA Assistance, AXA Corporate Solutions, AXA Global Direct and AXA Canada. After studies of Sciences and Management at the University Paris Dauphine, Mr. FranA ois Pierson joined AGP in 1974 and became Sales Director. In 1990, he became General Manager of the South-East Region of AXA Assurances in France and director of Distribution. In 1995, he was appointed Deputy Chief Executive of AXA Assurances and, in 1997, he became Chief Executive Officer of UAP Vie and of Alpha Assurances. In 1999, he became Chief Executive Officer of AXA Assurances. Mr. Pierson currently holds several other mandates within the Axa SA group, including Chairman of the Board of Directors of AXA France IARD, AXA France Vie and AXA Corporate Solutions Assurance, Chairman of AXA France Assurance (S.A.S.) and Vice-Chairman of the Board of Directors: AXA Canada Inc. (Canada). Giuseppe Mussari 49 Board Member N/A

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Mr. Giuseppe Mussari is an Independent Director of Axa SA as of April 29, 2010 and is also Member of the Company's Finance Committee. Prior to that, he served as an Independent Member of the Supervisory Board of Axa SA from May 14, 2007. He is a graduate in Law of the University of Sienna (Barrister registered in the Rolls of the Court of Sienna since 1993). In 1998, he became Deputy Chairman of the Criminal Section of the Court of Sienna and then in 2000, Chairman of the Criminal Section of the Court of Sienna. In July 2001, he was appointed Chairman of the Monte dei Paschi di Sienna Foundation. Since April 2006, Mr. Giuseppe Mussari has been Chairman of Banca Monte dei Paschi di Siena (BMPS). He is also director and member of the Executive Committee of Italian Bankers' Association and a Director of the Rosselli Foundation and Italy-China Foundation. Francois Martineau 60 Board Member N/A Mr. Francois Martineau has served as Independent Member of the Supervisory Board of AXA since April 2008 and is a Member of the Company's Nominating, Ethics, Governance and Human Resources Committee. He is Partner at SCP Lussan & Associes, Vice Chairman and Member of the Boards of Directors of Bred Banque Populaire, Assurances Mutuelles Le Conservateur and Associations Mutuelles Le Conservateur, and Member of the Boards of Directors of Conservateur Finance, AXA Assurances IARD Mutuelle and AXA Assurances Vie Mutuelle. He has been an Attorney since 1976. In 1981, he was Secretaire de la Conference. In 1985, he was a Lecturer at the Universite Paris I (Civil Procedure). In 1995, he was a Professor at the Paris Bar School (EFB) and in 1998, he was an Honorary Professor at the Law and Political Sciences School of Lima (Peru). In 1996, he became an Expert at the Council of Europe and fulfilled various missions in Eastern Europe countries regarding the reform of the Code of the Judicial Organization, the reform of the magistrates' and lawyers' training and the revision of the Code of Civil Procedure. Since 1987, Mr. FranA ois Martineau has been a Partner of the law firm SCP Lussan & Associes, and Managing Partner since 1995. He holds a degree in Philosophy from the Universite Paris IV and a Masters degree in Law from the Universite Paris I. He also graduated from Institut d'Etudes Politiques de Paris and holds a Certificat d'Aptitude a la Profession d'Avocat. Wendy Cooper 61 Board Member N/A Ms. Wendy Cooper acts as a Representative of the employee-shareholders on the Board of Directors of Axa SA as of April 29, 2010 and is also a Member of the Company's Finance Committee. Previously she served as a Representative of the employee-shareholders on the Supervisory Board of Axa SA from April 22, 2008. Ms. Cooper is a graduate of Allegheny College and Fordham Law School, New York, NY. From 1981 to 1987, she was Assistant Counsel to New York Governors Carey and Cuomo. From August 1987 to March 1995, she was the First Deputy Superintendent of Insurance of the New York Insurance Department and from January 1990 to June 1990, she held the position of Superintendent of Insurance of the New York Insurance Department. In May 1995, she joined The Equitable, which became AXA Equitable, as Vice-President & Associate General Counsel. Since September 1999, she has been Senior Vice-President & Associate General Counsel of AXA Equitable in charge of the Government Relations function, representing AXA Equitable's legislative and regulatory interests in front of the U.S. Congress, state legislatures, state insurance departments, state and national trade associations and other external audiences. Mark Pearson Board Member 1995 Mr. Mark Pearson is a Member of the Management Committee of Axa SA and President and CEO of AXA Financial, Head of Life & Savings Operations in the US as of January 1, 2011. He is also a Member of the Executive Committee of the Company and served as Chief Executive Officer of AXA Life Japan and AXA Japan Holdings from July 10, 2008. He joined the AXA Group in 1995 when AXA acquired a controlling interest in National Mutual (today AXA Asia Pacific Holdings). He was then CEO of National Mutual Asia, and thanks to this operation became CEO of AXA China Region, AXA's Hong Kong-based subsidiary. In 2001, he was appointed CEO of AXA Asia Life, the platform for AXA life activities in Asia. Mark Pearson had previously spent more than 15 years in the insurance sector, assuming many senior manager positions at National Mutual and Friends Provident. He is a Fellow of the Chartered Association of Certified Accountants. Gerald Harlin Board Member 2008 Mr. Gerald Harlin is the Group Financial Director (CFO) of Axa SA as of January 2010 and has been a Member of the Company's Executive Committee since July 10, 2008. He previously served as Deputy Financial Director, Executive Vice-President Finance and Control of Axa SA until January 2010. He joined the AXA Group in 1990 as corporate treasurer. In 1991, he became head of corporate finance, a position he held until 1994. He was subsequently appointed CFO of AXA Asset Management Europe and managing director of AXA Banque in 1994. In 1997, he became chief Investment Officer of AXA France and then in 2000 market program manager of AXA France in charge of CRM and product marketing. In 2001, he was named CFO of AXA France, a position he held until March 2003. Before joining the AXA Group, Mr. Harlin occupied various responsibilities in Total's corporate finance department. Peter S. Kraus 58 Board Member 2010 Peter S. Kraus has been appointed Executive Vice President and a member of the Management Committee of Merrill Lynch & Co., Inc. Mr. Kraus will be responsible for overseeing the firm's business strategy and investments; global growth plans and opportunities, and corporate acquisitions. He will also lead initiatives to integrate the work of the corporate strategy and business development team with the efforts of the firm's senior business leaders around the world to identify cross-platform synergies. Most recently, Mr. Kraus was with Goldman Sachs Group Inc. for over 22 years where he was co-head of the Investment Management Division (IMD), and a member of the Management Committee. Mr. Kraus was also head of firmwide strategy and chairman of the Strategy Committee. Before joining IMD, Mr. Kraus was co-head of the Financial Institutions Group (FIG) until 2001. Mr. Kraus is chairman of the Investment Committee of Trinity College, chairman of the Board of Overseers of CalArts, Co-Chair of the Friends of the Carnegie International, and a member of the board of the Keewaydin Camp. Mr. Kraus earned an MBA from New York University in 1975 and a BA from Trinity College in 1974. Philippe Egger Board Member 2007

Jean-Martin Folz 64 Board Member N/A Mr. Jean-Martin Folz is an Independent Director of Axa SA as of April 29, 2010 and is also Chairman of the Company's Ethics and Governance Committee and Member of the Finance Committee and Compensation and Human Resources Committee. He previously served as a Member of the Supervisory Board of Axa SA from May 14, 2007. He is a graduate of Ecole Polytechnique and ingenieur des Mines. Between 1975 and 1978, he has held various French government cabinet positions with his last position being head of cabinet of the Secretary of State for Industry. In 1978, he joined Rhone-Poulenc to run the Saint-Fons plant, and was then promoted to Senior Executive Vice-President of Rhone-Poulenc for the Specialty Chemicals business unit. In 1984, he became Senior Executive Vice-President and then Chief Executive Officer of Jeumont-Schneider (a Schneider subsidiary). In 1987, he was appointed Chief Executive Officer of Pechiney and Chairman of Carbone Lorraine (in 1988). In 1991, he became Group Chief Executive Officer of Eridania Beghin-Say and Chairman of Beghin-Say. Mr. Jean-Martin Folz joined PSA Peugeot Citroen in 1995 and became Chairman of the Management Board in 1997. He left PSA in February 2007. From June 2007 to March 2010, he was Chairman of the AFEP. Mr. Folz is also a Director or Member of the Supervisory Board of Saint-Gobain, Societe Generale, Alstom, Carrefour, ONF-Participations (SAS) and Solvay (Belgium). Jacques M. de Vaucleroy 50 Board Member 2010

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Mr. Jacques de Vaucleroy is the Chief Executive Officer (CEO) of the Northern, Central and Eastern Europe Business Unit of Axa SA and a Member of the Company's Executive Committee as of March 15, 2010. As of April 29, 2010, he is also a Member of the Company's Management Committee, having served previously as a Member of the Management Board, and as of January 1, 2011, he serves as the Global Head for the Group's Life & Savings and Health Businesses. Mr. de Vaucleroy has a Bachelors degree in Law from the Universite Catholique de Louvain and a Master's degree in Corporate Law from the Vrije Universiteit Brussel. Mr. de Vaucleroy has 24 years of experience in banking, insurance and asset management. From January 2001 to June 2002, he was Managing Director, member of the Executive Committee of ING Belgium (formerly Banque Bruxelles Lambert), responsible for Retail/Private Banking and Insurance activities in Belgium as well as in Luxembourg, France, Switzerland, Spain and Portugal. From June 2002 to December 2003, Mr. de Vaucleroy joined ING Insurance in the United States as Head of Distribution and from January 2004 to April 2006, he was Group President of ING Insurance in the United States, responsible for the Annuity, Life, Mutual funds and Broker-Dealers business units. From April 2006 to May 2009, he was Member of the Executive Board of ING Group and CEO for Insurance and Investment Management Europe. From June 2009 to October 2009, Mr. de Vaucleroy was CEO of ING Investment Management and Member of the ING Insurance Management Board and the ING Group Executive Committee. Mr. de Vaucleroy currently holds several other positions within Axa SA, including Chairman of the Board of Directors of AXA Investment Managers, AXA Belgium (Belgium), AXA Participations Belgium (Belgium). AXA Bank Europe (Belgium), AXA Versicherungen AG (Switzerland), AXA Leben (Switzerland) and AXA Luxembourg SA (Luxembourg), and Chairman of the Supervisory Board of AXA Konzern AG (Germany). John R. Dacey 51 Board Member 2007 Mr. John R. Dacey has been a Member of the Executive Committee and Chief Executive Officer for the Japan Asia-Pacific Business Unit since April 11, 2007. Until the completion of the sale of Winterthur to AXA (by its parent company Credit Suisse) he was member of Winterthur Group's Executive Committee and has held a number of senior positions within the Winterthur Group, such as Head of Strategy and Chief Financial Officer. He started his career at the Federal Reserve Bank of New York and as a partner at McKinsey & Company before joining Winterthur in 1998 as Head of Corporate Development and Planning. He holds a degree of Harvard University (Boston USA) and a Bachelor of Arts in Economics from Washington University in St Louis (USA). Emmanuel de Talhouet Board Member 2011 Mr. Emmanuel De Talhouet is a Member of the Executive Committee of Axa SA as of January 1, 2011 and has been the Chief Executive Officer of AXA Belgium since 2010. He joined the AXA Group in 2001 as strategic auditor, one year before being appointed CEO of AXA France's AXA Particuliers / Professionnels for the North-East region. In 2008, he was appointed BSD director (Business, Support & Development) for AXA's Northern, Central and Eastern Europe business unit. He had previously worked in the consulting and public works areas, assuming several senior manager positions. Mr. De Talhouet is a graduate of Ecole Polytechnique. Jean-Louis Laurent Josi Board Member 2011 Mr. Jean-Louis Laurent Josi is a Member of the Executive Committee of Axa SA and Chief Executive Officer of AXA Japan as of January 1, 2011. He joined the AXA Group with Winterthur's integration in 2006 to manage as a member of the Executive Committee AXA Belgium's multidistribution activity. He was previously managing director and COO of a Belgian bank, before being in charge of Life Underwriting, and then Retail & SME for Winterthur-Europe Assurances. In 2008 he was appointed CEO of AXA Gulf & Middle East. Jean-Louis Laurent Josi holds a postgraduate degree in actuarial sciences from the Universite Catholique de Louvain, Belgium, and a MBA from the College of Insurance in New York, part of St. John's University. Frank Keuper 58 Board Member 2007 Mr. Frank Keuper has been a Member of the Executive Committee of Axa SA as of April 11, 2007 and Chief Executive Officer of AXA Konzern AG as of January 1, 2007, following the completion of the acquisition of the Winterthur Group by AXA. Prior to this position he was Chairman of the Management Board of DBV Winterthur, the German insurance subsidiary of Winterthur. Between 1994 and 2004, Frank Keuper was member of the Management Board of AXA Versicherung and then member of the Management Board of AXA Konzern. He started his career at Albingia in 1985, a subsidiary of Guardian Royal Exchange, the UK-based insurance group acquired by AXA in 1999. Frank Keuper holds a degree in Economics of the University of Vienna. Paul Evans Board Member 2010 Mr. Paul Evans is a Member of the Executive Committee of Axa SA and Chief Executive Officer of AXA UK as of October 1, 2010. He joined AXA UK in January 2000 following a 13-year career with PricewaterhouseCoopers in London and Toronto, Canada, where he spent two years. He was appointed Chief Executive of AXA Life UK in May 2003 and Deputy Group CEO, AXA UK in June 2010. Mr. Evans was previously Group Finance Director of AXA UK, responsible for finance, treasury, taxation, strategy and procurement. He is a member of the Board of AXA UK plc. Mr. Evans graduated from Imperial College London, having obtained a BSc in Mathematics. He is a member of the Institute of Chartered Accountants and of the Life Insurance Committee of the Association of British Insurers (ABI). Michael Bishop Board Member 2010

George Stansfield 51 Board Member 2004 Mr. George Stansfield has been General Counsel of AXA SA since 2004 with responsibility for the Group's global legal and compliance matters. He is also Group Head of Human Resources and Member of the Group Executive Committee as of November 1, 2010. Prior to joining AXA's Group Legal Department in Paris in 1996, he practiced law for 11 years in New York City where he was a corporate attorney in the Legal Department of AXA Equitable specialized in merger & acquisition transactions involving financial institutions, securities law and general corporate matters. Mr. Stansfield graduated from Georgetown University Law Center with his law degree in 1985 and from Trinity College with a degree in History in 1982. He was admitted to the New York Bar in 1986 and has been licensed as an attorney in New York since that time. In 1993, he spent a year on a management exchange program at Meiji Life in Tokyo. Jean-Laurent Granier 44 Board Member 2010 Mr. Jean-Laurent Granier is a Member of the Executive Committee of Axa SA and Chief Executive Officer of the Mediterranean and Latin America Region as of January 1, 2010. He joined UAP in 1990 until its merger with AXA in 1997. He worked in various positions at AXA France, where he was appointed Head of Life Insurance in 2000 and CEO of AXA particuliers/professionnels in 2002. Jean-Laurent Granier is a graduate of Ecole Polytechnique and ENSAE and is a member of the Institut des Actuaires FranA ais (French Institute of Actuaries). Ramon de Oliveira 56 Board Member N/A Mr. Ramon De Oliveira is an Independent Director of Axa SA as of April 29, 2010 and is also the Chairman if the Company's Finance Committee and a Member of the Audit Committee. Prior to that, he served as an Independent Member of the Supervisory Board of Axa SA from April 30, 2009. He is a graduate of the University of Paris and of the Institut d'Etudes Politiques (Paris). Starting in 1977, Mr. De Oliveira spent 24 years at JP Morgan & Co. From 1996 to 2001, Mr. De Oliveira was Chairman and CEO of JP Morgan Investment Management. Mr. De Oliveira was also a member of the firm's Management Committee since its inception in 1995. Upon the merger with Chase Manhattan Bank in 2001, Mr. De Oliveira was the only executive from JP Morgan & Co. asked to join the Executive Committee of the new firm with operating responsibilities. Between 2002 and 2006, Mr. De Oliveira was an Adjunct Professor of Finance at Columbia University. He is the Managing Director of the consulting firm ROC Partners, based in New York city. He is also Trustee and Chairman of the Investment Committee of The Kauffman Foundation, Chairman of the Investment Committee of Fonds de Dotation du Louvre, Director of Taittinger-Kobrand USA (United States) and member of the Investment Committee of The Red Cross. Veronique Weill 51 Board Member 2009

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Ms. Veronique Weill has been a Member of the Executive Committee of Axa SA as of January 1, 2009 serving as Group Chief Operating Officer. She joined the AXA Group in June 2006 as AXA Business Services CEO and Group Executive Vice President, Operational Excellence, and became Group Executive Vice President IT & Operational Excellence in January 2008. She had previously spent more than 20 years at JP Morgan, notably as Group head of Operations for Business Banking and global head of IT & Operations for Asset Management and Private Clients. She graduated from Institut d'Etudes Politiques de Paris and from La Sorbonne University in Literature. Dominique Carrel-Billiard Board Member 2006 Mr. Carrel-Billiard Dominique has served as Director of AllanceBernstein Corporation, the General Partner of AllianceBernstein L.P. since July 2004. He has been Chief Executive Officer of AXA Investment Managers S.A. (" AXA IM"), a subsidiary of AXA, since June 2006 and was named to the AXA Group Executive Committee in January 2009. He is also a member of the boards of directors of various other privately-held subsidiaries and affiliates of the AXA Group. Mr. Carrel-Billiard joined AXA in June 2004 as the Senior Vice President-Business Support and Development in charge of AXA Financial, asset management and reinsurance. Prior to joining AXA, Mr. Carrel-Billiard was a Partner of McKinsey & Company ("McKinsey"), a strategic consulting firm, where he specialized in the financial services industry. During the 12 years he spent at McKinsey, Mr. Carrel-Billiard worked on a broad array of topics (including insurance, asset gathering and management, and corporate and investment banking) for the top management of international banks, insurance companies, including AXA, and other financial services groups. Andrew Penn Board Member 2006 Mr. Andrew Penn has been a Member of the Executive Committee of Axa SA and Chief Executive Officer of AXA Asia Pacific Holdings (Australia) since October 1, 2006. Until that, he served as CEO of AXA Australia & New Zealand, a unit of AXA APH. He has held a number of senior roles at AXA APH including CFO and international chief executive, responsible for operations in North and South East Asia. He is a Fellow of The Chartered Association of Certified Accountants in the UK and has an MBA from Kingston University in London. He is also a graduate from the Harvard Business School's Advanced Management Program. In addition to his role at AXA, Mr. Penn is also chairman and foundation board member of "Very Special Kids", a Victorian charity which provides palliative respite and hospice services for terminally-ill children and their families. He is also an ambassador for the Australian Amy Gillett foundation promoting a safe and harmonious relationship between cyclists and motorists. Jacques d'Armand de Chateauvieux 60 Director 2008 Mr. Jacques De Chateauvieux has served as Independent Chairman of the Supervisory Board of AXA since April 22, 2008 and is the Chairman of the Company's Finance Committee. Prior to this, he served as Independent Vice Chairman of the Supervisory Board of the Company between February 27, 2008 and April 22, 2008. He also served as Chairman of the Company's Remuneration Committee. Mr. De Chateauvieux has been an Independent Member of the Supervisory Board of AXA since 2005. He graduated from Institut Superieur de Gestion in Paris, and holds an MBA from Columbia University. He served as Management Auditor of Union des Transports Aeriens between 1975 and 1977. From 1977 to 1979, he was Consultant with the Boston Consulting Group. Since 1979, Mr. De Chateauvieux has served as Chairman and Managing Director (CEO) of Groupe Bourbon. He is also Chairman of the Board and Managing Director (CEO) of JACCAR, Chairman of the Board of Directors of SAPMER S.A. and CBo Territoria, and a Board Member of INNODIS, and SINOPACIFIC Shipbuilding Group. Suet-Fern Lee 52 Director N/A Ms. Suet-Fern Lee is an Independent Director of Axa SA as of April 29, 2010 and is also a Member of the Company's Finance Committee. She graduated with a double first in Law from Cambridge University in 1980 and qualified as a Barrister-at-Law at Gray's Inn London in 1981. She was admitted to the Singapore Bar in 1982. She is President-Elect of the Inter-Pacific Bar Association (IPBA) and has been a council member of the International Bar Association. She is Chairman of the Asian Civilizations Museum Board, a member of the National Heritage Board, a member of the Advisory Board to the Law School at Singapore Management University, a trustee for Nanyang Technological University and a Fellow of the Singapore Institute of Directors. Since 2000, she has been Senior Director of Stamford Law Corporation (Singapore). She also holds several other mandates, including Director of Stamford Corporate Services Pte Ltd, Macquarie International Infrastructure Fund Ltd, SembCorp Industries Ltd, Transcu Group Limited, Rickmers Trust Management Pte Ltd, National Heritage Board. Isabelle Kocher 44 Director N/A Ms. Isabelle Kocher has been an Independent Director of Arkema SA since November 9, 2009. She graduated from Ecole Normale Superieure and is a Corps des Mines engineer. Ms. Kocher has been Managing Director of Lyonnaise des Eaux since 2009. She was in particular responsible for the post and telecommunications and the defence budgets at the Ministry for Economy, Finance and Industry from 1997. From 1999 to 2002, she was Industrial Affairs Adviser to the Prime Minister. She joined the Suez GroupaCOs Strategy and Development department in 2002 as Managing Director in charge of performance and organization until 2007, and then Deputy Managing Director of Lyonnaise des Eaux France until 2009. She also holds other mandates, including Chairman and Chief Executive Officer of Eau et Force and SDEI, and Director of Societe des Eaux de Marseille, SAFEGE, R+I Alliance and Degremont. She was Director of FLUXYS until April 2009. Regine Lucas Executive Vice President N/A Regine Lucas will oversee EUR 6 billion of procurement (2009), with the main portfolios concerning purchases for insurance claim settlement-related services, IT, consulting, marketing and general expenses.

Regine Lucas joined AXA in 2009 as VP General Expenses and IT for Group Procurement, after several years working for Danone, where she held various Procurement and Marketing positions. She began her career at Mars, working successively in the sales teams, management control and purchasing. Regine Lucas graduated from ESCEM (Ecole Sup rieure de Commerce de Tours). Jerome Hamilius Senior Vice President N/A A lawyer by training, J r me Hamilius is currently Secretary General of the European Financial Stability Facility and was previously Head of European Affairs at the Luxembourg Treasury Department where he has spent most of his career, with a three year stint as representative of Luxembourg at the International Monetary Fund in Washington DC. Pascal Buffard Corporate Executive N/A A graduate from France's Ecole Nationale de la Statistique et de 'Administration Economique (ENSAE), Pascal Buffard spent the early part of his career in banking information systems before joining the AXA Group in 1989 to hold multiple roles in information systems, organization, finance and logistics.

Pascal Buffard has been a member of AXA France's Executive Committee since 1997. In 2009, he was appointed Director of Transversal Operations for AXA France, which put him in charge of supervising AXA France Services, AXA France Supports and the General Secretariat. Jerome Droesch Corporate Executive N/A Jerome Droesch (42) joined AXA Group in 1991 within the Central Direction of the Organization in Paris.

He then held several commercial, operational and managerial positions in French regions and in Paris. In 2003, he was appointed P&C Insurance Organization Director in France before taking the lead of the sales and distribution direction for the French West Region in 2005. He became Regional CEO for the South-West French region in 2008.

Jerome Droesch graduated from the Ecole Centrale of Lyon, and has a diploma of Studies Specialized in Patrimonial Engineering from the College of Business of Nice.

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Jean Sorasio CTO/CIO/MIS N/A Jean Sorasio was appointed as Group Chief Investment Officer. His role will be to manage and coordinate AXA s investment and asset-liability management strategy in order to optimize investment performance, within the risk appetite defined by the Group. He joined the AXA Group in 2007 as Chief Investment Officer of AXA Life Japan. He had previously held several management positions in Capital Markets with Banque Indosuez, as well as with the EBRD, where he acted as Head of Asset & Liability Management and then Director of Treasury Risk Management. Jean Sorasio holds an MSC in Management from HEC, Paris and is a member of the French Society of Actuaries (diploma from the Center of Actuarial Studies, Paris).

Board and Management Interlocks Director/Officer Position Interlocked Company Position with Interlocked Company

Henri de Castries Chairman of the Board, CEO, AllianceBernstein Holding LP Chairman of the Board, Managing Member of the Management Director Committee and Executive Committee Dominique Reiniche Director The Coca-Cola Company President - Europe Group

Denis Duverne Member of the Mng.Com.and AllianceBernstein Holding LP Director of the General Partner Exec.Com., Dep.CEO in charge of Finance, Strategy and Operations, Direc... Ezra Suleiman Independent Director Suez Environnement SA Independent Director

Ezra Suleiman Independent Director Mony Life Insurance Company of Director America John R. Dacey Member of the Executive Committee, AXA Winterthur Chief Financial Officer CEO for Japan Asia-Pacific Business Unit John R. Dacey Member of the Executive Committee, Axa Asia Pacific Holdings Limited Non-Executive Director CEO for Japan Asia-Pacific Business Unit Peter S. Kraus Member of the Mng.Com.and AllianceBernstein Holding LP Chairman of the Board, Chief Executive Exec.Com., Chairman and CEO of Officer of the General Partner AllianceBernstein (United States) Isabelle Kocher Independent Director Arkema Independent Director

Isabelle Kocher Independent Director Suez Environnement SA Head of Lyonnaise des Eaux, Member of the Executive Committee Isabelle Kocher Independent Director Soc Distribution D'Eau Chairman Intercommunale

Top Company Professional Liability Cases by Settlement Amount Company Acc/Filing Amount Category Subtype Docket Number Court State Date (in millions) AXA Group 9/22/2011 $2.500 Financial Practices Investment Advisor IA-3285 California

Washington, D.C., Sept. 22, 2011 - The Securities and Exchange Commission charged the co-founder of institutional money manager AXA Rosenberg with securities fraud for concealing a significant error in the computer code of the quantitative investment model that he developed and provided to the firm's entities for use in managing client assets. Administrative Proceeding Release No. IA-3285 According to the SEC's order instituting administrative proceedings against Barr M. Rosenberg, he learned of the error in June 2009 but directed others to keep quiet about it and not fix it immediately. Rosenberg denied the existence of any significant errors in the model during an October 2009 board meeting discussion about its performance. AXA Rosenberg disclosed the error to SEC examination staff in late March 2010 after being informed of an impending SEC examination. The error was not disclosed to clients until April 2010, causing them $217 million in losses. Rosenberg has agreed to settle the SEC's charges by paying a $2.5 million penalty and consenting to a lifetime securities industry bar. The SEC previously charged AXA Rosenberg and its affiliated investment advisers, and they agreed to pay $217 million to harmed clients plus a $25 million penalty. "Rosenberg chose concealment over candor, and in doing so selfishly served his interests over those of his clients," said Robert Khuzami, Director of the SEC's Division of Enforcement. Bruce Karpati, Co-Chief of the Asset Management Unit in the SEC's Division of Enforcement, added, "Investors in quant funds trust their advisers to develop, maintain and operate the quant models that drive a fund's performance. Rosenberg betrayed investors when he failed to disclose the material coding error." According to the SEC's order, Rosenberg created the model, oversaw research projects to improve and enhance it, and

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exercised significant authority throughout the AXA Rosenberg organization. The material error in the model's computer code disabled one of its key components for managing risk and affected the model's ability to perform as expected. Clients raised concerns about this underperformance, and Rosenberg knew about and discussed these concerns with others at AXA Rosenberg. But instead of disclosing and correcting the error immediately, Rosenberg directed others to conceal the error and declined to fix the error. The SEC's order found that due to Rosenberg's misconduct, AXA Rosenberg and its affiliated investment advisers misrepresented to clients that the model's underperformance was attributable to factors other than the error, and inaccurately stated that the model was controlling risk correctly. Rosenberg's instructions to delay fixing the error caused additional client losses. In its order, the SEC found that Rosenberg willfully violated anti-fraud provisions of the Investment Advisers Act of 1940, Sections 206(1) and 206(2). Without admitting or denying the SEC's findings, Rosenberg consented to the entry of an SEC order that requires him to cease and desist from committing or causing any violations and any future violations of these provisions; orders him to pay the $2.5 million penalty; and bars him from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization and prohibits him from serving as an officer, director or employee of a mutual fund. The SEC's investigation was conducted by Jason P. Lee and Marshall S. Sprung of the SEC's Los Angeles Regional Office, and they were assisted by Alice L. Schulman of the SEC's San Francisco Regional Office. Ms. Schulman, Arturo Hurtado, and Michael Tomars - securities compliance examiners in the San Francisco office - conducted the related AXA Rosenberg examination. Mr. Sprung is a member of the SEC's Asset Management Unit.

Clash Events with the Industry Description Root Cause

Market Timing 1998 - 2003 Market Timing

Mutual Funds Mutual Funds Sales Practice

Enron Enron

World Trade Center, September 11, 2001 Terrorism

FINRA Fines & Sanctions - Late Reporting - November 3, 2004 Single Case, Multiple Defendants

MSCAd Large Losses for the Industry (Professional Liability)

Top Industry Professional Liability Cases by Accident/Filing Date Top Industry Professional Liability Cases by Settlement Amount

Company Acc/Filing Amount Category Subtype Company Acc/Filing Amount Category Subtype Date (in millions) Date (in millions) Berkshire 12/1/2010 Financial Insurance Aviva PLC 6/11/2010 $150.000 Financial Insurance Hathaway Inc. Practices Coverage Practices Coverage On September 14, 2011, Berkshire Hathaway Inc. (Berkshire) agreed to Aviva Insurance Co. of Canada has agreed to pay $150 million to bankrupt settle the Australian insurance claims stemming from a 2005 crash by a mining firm Flintkote Co. to settle a dispute over insurance payouts for asbe... Royal Aust... Berkshire 12/1/2010 Financial Insurance Aviva PLC 6/11/2010 $150.000 Financial Insurance Hathaway Inc. Practices Coverage Practices Coverage On September 14, 2011, Berkshire Hathaway Inc. (Berkshire) agreed to settle the Australian insurance claims stemming from a 2005 crash by a Royal Aust...

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Aviva Insurance Co. of Canada has agreed to pay $150 million to bankrupt Aviva PLC 9/15/2008 Financial Insurance mining firm Flintkote Co. to settle a dispute over insurance payouts for Practices Coverage asbe... Descendants of the Armenian genocide filed another class action against an Aviva PLC 9/15/2008 Financial Insurance insurance company, claiming they are entitled to benefits that should have ... Practices Coverage Descendants of the Armenian genocide filed another class action against an insurance company, claiming they are entitled to benefits that should have ...

Significant Developments - Past 3 Months Development Date

AXA Global P&C Announces Successful Placement of EUR 10/21/2011 180 Million Catastrophe Bonds AXA, Assicurazioni Generali Submit First-round Bids For 10/14/2011 HSBC Holdings plc Unit-Reuters Allianz SE, AXA Along With Japan Insurers Potential Bidders 10/06/2011 For HSBC Holdings plc's Non-life Unit-Reuters

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