French insurance company AXA (AXA) is planning to delist its American Depository Shares that are currently trading at the New York Stock Exchange (NYSE). Once it delists itself from the NYSE, it intends to deregister from the U.S. Securities and Exchange Commission (SEC). The company is planning such a move as the volume of trades on NYSE is too low. The shares of AXA have been trading on the NYSE for the past 14 years.

AXA expects the delisting to become effective by the first quarter of 2010, after the announcement at its annual general meeting. The group says that trading volumes and liquidity on the NYSE have not developed to the level it had hoped for since its listing in 1996. Future trading in its shares will remain with EuroNext Paris, which accounts for over 95% of its worldwide trading volume. The company trades on the EuroNext under the symbol CS.

As a result of deregistration from the SEC, AXA will suspend its reporting obligations and will no longer be required to file certain reports and forms with the SEC including forms 10-K, 10-Q and 8-K.

AXA also announced its intention to voluntarily delist the following series of its debt securities: 8.60% subordinated notes due December 15, 2030, 6.75% euro subordinated notes due December 15, 2020 and 7.125% GBP subordinated notes due December 15, 2020. With this, the company would no longer have any securities outstanding listed on a national exchange that would require continued SEC reporting. The reason cited by AXA to delist the debt is that the administrative costs and burdens associated with the listing were exceeding the benefits.

Monthly operating reports and other information about the company will continue to be made available in the company’s filings in both English and French.

The AXA group of companies is engaged in life, health and other forms of insurance, as well as investment management. It operates primarily in Western Europe, North America, the Asia-Pacific region and the Middle East. The AXA group encompasses five operating business segments: Life & Savings, Property & Casualty, International Insurance (including reinsurance), Asset Management and Other Financial Services.

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