Equitable Holdings

Equitable Holdings, Inc. is an American financial-services and insurance holding company whose origins extend to the founding of The Equitable Life Assurance Society of the United States in 1859 by Henry Baldwin Hyde. The historical Equitable developed as a major life insurer and became closely associated with New York’s financial district, where it occupied successive landmark buildings and built relationships with prominent investors, industrialists, and financial institutions. The company’s history includes both expansion and periods of serious institutional pressure. In the early twentieth century, the Hyde costume-ball controversy involving James Hazen Hyde, the founder’s son, contributed to a broader public and legislative examination of insurance-company governance and spending. During the twentieth century, Equitable expanded beyond traditional individual life insurance into group coverage, mortgage and real-estate finance, and institutional investment management. Its wartime work included group life policies for United States government employees serving in or near war zones. The company also made controversial lending decisions in the 1950s that contributed to discriminatory housing patterns in East Palo Alto, a legacy connected to the wider history of redlining and racial segregation in American finance. By the 1980s, Equitable had become one of the largest life insurers in the United States and had established a substantial real-estate investment-management operation. Its financial position was challenged by losses associated with real estate and so-called junk-bond portfolios, prompting a decision to demutualize in 1990. In 1991, France’s AXA Group acquired a major stake in Equitable, providing capital and becoming the company’s controlling shareholder. The American operation subsequently operated under AXA-related names, including AXA Equitable Life Insurance Company. Under AXA ownership, the business grew its insurance and investment activities and participated in a broader international financial-services platform. AXA began separating its United States life-insurance operations in 2018. The transaction created the publicly traded company now known as Equitable Holdings and included operating insurance entities, distribution businesses, and affiliated life-reinsurance structures. The initial public offering in May 2018 raised proceeds for AXA and established the company on the New York Stock Exchange under the symbol EQH. AXA reduced its ownership through a secondary offering in 2019 and sold its remaining stake later that year. Equitable adopted its current corporate name and refreshed visual identity in January 2020. Today, Equitable Holdings is organized around insurance and retirement businesses associated with Equitable, together with investment-management activities associated with AllianceBernstein. Its offerings generally address lifetime income, retirement accumulation and distribution, life insurance protection, annuities, workplace retirement arrangements, investment advice, and institutional asset management. The company primarily serves customers and institutions in the United States. A reference source also reports that Equitable announced a proposed all-stock combination with Corebridge Financial in March 2026; the status and completion of that reported transaction require verification against current company filings.

The Equitable Life Assurance Society of the United States was founded in 1859 by Henry Baldwin Hyde. The business established itself as a major American life insurer and opened offices in the Equitable Life Building in Manhattan’s Financial District in 1870. The company also pursued an international presence during the late nineteenth century, including construction of the Palais Equitable in Vienna between 1889 and 1891. A major early controversy arose from the 1905 Hyde costume-ball scandal. James Hazen Hyde, the founder’s son and a company vice president, was accused of charging an extravagant Versailles-themed event to the insurer. The reference account describes the accusations as part of a media campaign organized by company opponents, including senior directors and financiers. The affair damaged the company’s reputation and helped trigger a New York State legislative investigation into the insurance industry. After the company’s headquarters burned in 1912, Equitable constructed another major Manhattan headquarters on the site. Equitable remained connected to powerful financial interests during the first half of the twentieth century. In 1915, T. Coleman du Pont acquired a majority interest from J. P. Morgan Jr. During World War II, the insurer underwrote group life coverage for members of the War Agencies Employees Protective Association, serving employees of numerous United States government agencies working in or near combat zones. The arrangement produced relatively few claims and enabled the insurer to return part of the premiums to the association. The company’s record also includes discriminatory housing-finance practices. In 1954, after blockbusting in East Palo Alto, Equitable adopted a mortgage policy that restricted lending to white families in integrated communities. The policy made access to government-insured mortgages more difficult in racially mixed areas and contributed to white flight and demographic change. This episode is part of the broader history of institutional redlining in American housing finance. In 1985, Equitable created Equitable Real Estate Investment Management to develop and finance projects and manage a large real-estate portfolio. Pressure from losses in real estate and junk bonds contributed to the company’s decision to demutualize, announced in December 1990. On July 18, 1991, AXA Group acquired a 49 percent interest for approximately $1 billion, providing capital and helping stabilize the business. AXA later became the controlling owner, and the American operation adopted the AXA Equitable name in 2004. AXA’s strategic priorities changed in the 2010s as it sought to rebalance its global portfolio. In 2018, it began separating the United States life and retirement operations through an initial public offering. The transaction created a listed holding company and separated several operating and distribution entities. AXA reduced its stake through a 2019 secondary offering and sold its remaining shares in November 2019. In January 2020, the company adopted the Equitable Holdings name and launched a revised brand identity. Equitable Holdings now combines insurance and retirement businesses operating under the Equitable name with investment-management activities associated with AllianceBernstein. Its activities center on life protection, annuities, retirement accumulation and income, workplace plans, financial advice, and institutional investment management. The supplied reference also reports a proposed 2026 all-stock merger with Corebridge Financial, but that event should be checked against current regulatory filings and company disclosures before being treated as completed history.

1. 2020Equitable Holdings brand launches

   The company changes its operating name to Equitable Holdings and introduces a refreshed identity.

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2. 2019AXA exits ownership

   AXA reduces its stake through a secondary offering and later sells its remaining shares.

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3. 2018Public offering begins the AXA separation

   AXA completes the initial public offering of AXA Equitable Holdings, creating a listed United States holding company.

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4. 2004The company adopts the AXA Equitable name

   The insurer formally changes its name to AXA Equitable Life Insurance Company.

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5. 1991AXA acquires a major stake

   AXA Group purchases a 49 percent interest in Equitable, providing capital following pressure from real-estate and junk-bond losses.

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6. 1990Demutualization is announced

   Equitable announces plans to convert from a mutual insurer into a stock-owned structure.

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7. 1985Real-estate investment-management subsidiary is formed

   Equitable establishes Equitable Real Estate Investment Management to develop, finance, and manage real-estate assets.

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8. 1943Wartime group-life underwriting begins

   Equitable begins underwriting group life policies for government employees working in or near war zones through WAEPA.

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9. 1912New headquarters follows a fire

   After the company’s headquarters burns, Equitable erects a new Equitable Building on the Manhattan site.

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10. 1905Hyde costume-ball scandal

    A dispute over James Hazen Hyde’s lavish costume ball contributes to public scrutiny and a legislative investigation of the insurance industry.

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11. 1870First major Manhattan headquarters opens

    Equitable opens headquarters in the Equitable Life Building in Manhattan’s Financial District.

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12. 1859Equitable is founded

    Henry Baldwin Hyde establishes The Equitable Life Assurance Society of the United States.

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A diversified American financial-services group positioned around financial protection, retirement security, lifetime income, and investment management.

• Life insuranceInsurance

  Equitable’s historical and continuing insurance activity includes life-protection products designed to provide beneficiaries with financial support after the insured’s death. The business has served individual, group, and institutional customers over different periods of its history.

• Annuities and retirement-income solutionsRetirement

  The group offers retirement-oriented products intended to help customers accumulate assets and convert savings into income. These solutions are central to Equitable’s positioning in lifetime financial planning and retirement security.

• Workplace retirement servicesRetirement

  Workplace offerings support employer-sponsored retirement arrangements and related participant needs. They extend the company’s insurance expertise into institutional and employee-benefit settings.

• Investment managementAsset management

  Equitable Holdings includes investment-management activities associated with AllianceBernstein. These activities serve institutional and other investors through professional portfolio management, research, and advisory capabilities.

• Real-estate investment managementAlternative investments1985

  Equitable Real Estate Investment Management was established in 1985 to develop and finance real-estate projects and manage real-estate assets controlled by Equitable. Its historical role illustrates the company’s expansion beyond underwriting.

• 2020Equitable brand refresh

  United States

  Following the end of AXA ownership, Equitable introduced a new corporate name, operating identity, and logo drawing on the company’s longstanding Athena imagery.

  Outcome. Established the Equitable Holdings identity after the separation from AXA.

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• 2026Proposed combination with Corebridge FinancialM&A

  The supplied reference reports a proposed combination intended to unite two large retirement and insurance businesses.

  What changed. Equitable Holdings reportedly announced an all-stock merger with Corebridge Financial.

  Aftermath. The reported transaction would create a larger combined financial-services company, but its completion and final terms require verification.

  Reported transaction value. $22 billion (March 2026)

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• 2018AXA spins off and lists the United States operationsM&A

  AXA sought to rebalance its global business and separate its United States life-insurance and retirement operations.

  What changed. AXA completed an IPO of AXA Equitable Holdings and began reducing its ownership through public-market transactions.

  Aftermath. The transaction created the listed Equitable Holdings platform, which became independent of AXA in 2019.

  IPO proceeds. $2.75 billion (May 2018)

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• 1991AXA takes a major stake in EquitableM&A

  Equitable required additional capital after losses in its real-estate and junk-bond portfolios and was reportedly under severe financial pressure.

  What changed. AXA Group acquired a 49 percent interest in Equitable for approximately $1 billion.

  Aftermath. AXA became the company’s controlling owner and integrated the United States business into its international insurance platform.

  Investment amount. $1 billion (1991)

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• 1990Decision to demutualizeStrategy

  Equitable faced pressure to strengthen and diversify its capital base following financial difficulties connected with real estate and junk-bond investments.

  What changed. The company announced plans to convert from a mutual insurance structure into a stock-owned company.

  Aftermath. The change helped prepare Equitable for AXA’s major investment the following year and for its later development as a publicly traded group.

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• 1954Discriminatory mortgage policy in East Palo AltoControversy

  Equitable pursued a policy restricting mortgages to white families in integrated communities after blockbusting in East Palo Alto. The decision made government-insured lending more difficult in racially mixed areas and contributed to patterns of white flight and segregation.

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• 1905Hyde costume-ball controversyControversy

  James Hazen Hyde was accused of charging an extravagant Versailles-themed costume ball to the company. The reference account says the accusation formed part of a media campaign by internal opponents, and the resulting controversy helped prompt a New York State investigation of the insurance industry.

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• 2026Equitable Holdings announces a proposed combination with Corebridge Financial

  The reference material reports a proposed all-stock merger valued at approximately $22 billion that would combine Equitable Holdings and Corebridge Financial. Completion and current status require verification.

  M&A
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• 2020Equitable introduces its post-AXA corporate branding

  The company adopted the Equitable Holdings name and introduced a refreshed identity featuring a logo associated with Athena, continuing a longstanding visual motif.

  CampaignLeadership change
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• 2019AXA reduces its ownership of AXA Equitable Holdings through a secondary offering

  A secondary common-stock offering reduced AXA’s ownership from approximately 60 percent to approximately 48.3 percent, according to the reference account.

  M&A
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• 2019AXA exits its remaining investment in Equitable Holdings

  AXA announced the sale of its remaining stake in AXA Equitable Holdings, ending AXA’s ownership of the American company.

  M&A
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• 2018AXA completes the initial public offering of its United States life-insurance operations

  AXA announced the IPO of AXA Equitable Holdings, selling a minority interest and beginning the separation of the American insurance business into a publicly traded company.

  M&AOther
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1. Equitable Holdings
2. Equitable Holdings official website