L'Union Insurance Company, which was founded in Paris in 1828 and laid the foundations of AXA, started its operations in the Ottoman Empire in 1892. AXA OYAK Holding was established in February 1999. AXA and OYAK shares in Oyak Sigorta, Nordstern İmtaş Sigorta, AXA OYAK Hayat Sigorta and Nordstern İmtaş Hayat Sigorta were transferred to AXA OYAK Holding. It has currently an extensive distribution network in Turkey with more than 2,000 agencies and over 1,900 bank branches in all 81 cities. 

The company ended the year 2019 in the 9th place in the production ranking in Turkey with 3.96% market share, and as of the end of the 11th month of 2020, it is in 9th place in the production ranking in Turkey with 3.42% market share.