AXA UK today announces changes to the organisational structure of its general insurance business that allows a sharper market focus and closer alignment to customer needs.
The restructuring of AXA Insurance follows a strategic review which will see the creation of two self-contained business units – Commercial Lines and Personal Lines – each led by a CEO and their own management teams with direct responsibility for profitability. The CEOs of both businesses will report directly to AXA UK Group CEO Paul Evans and will become members of the AXA UK executive committee.
The new business model allows for the opportunity to improve efficiency and reduce duplication. The proposed structure will not, therefore require a CEO role at the head of AXA Insurance. Philippe Maso, who has been on secondment to the UK from AXA Group, will therefore step down as CEO.
Commenting on the changes, AXA UK Group, CEO, Paul Evans said:
“I would firstly like to thank Philippe for his vast contribution to AXA during his time in the UK and wish him well for the future. Moving to this structure will give our people who are closer to our markets a greater sense of empowerment and accountability which will result in us being better placed to respond to market challenges as well as distributor and customer needs. As our portfolio in the UK is now a number of specialist businesses, this change brings the insurance business in line with the rest of our UK operations.”
The following changes will also take place with immediate effect:
– John O’Neil, CEO of AXA Ireland will take responsibility for overseeing the setting up of the new business structure and will lead the commercial lines team on an interim basis while a CEO is recruited
– Steve Hardy, currently managing director, AXA Direct will take over the new role of CEO personal lines. He will report directly to Paul Evans, AXA UK Group CEO, and joins the AXA UK executive committee
Source : AXA UK Press Release
