Axa rejigs UK insurance as its chief exits

first_img Share Tags: NULL AXA UK Insurance chief executive, Philippe Maso, has stepped down from his role after two years following a strategic review that will see the company reorganise into two distinct business units.Axa said one unit will focus on commercial business with the other focusing on consumer business. It said the change would give it a “sharper market focus and closer alignment to customer needs.” Each business will be headed by a new chief executive, with their own management teams, who will take direct responsibility for profitability and report to Axa UK group chief executive, Paul Evans.Maso is believed to be in negotiations about his future within the Axa Group. City A.M. understands he was less than enthusiastic about taking over one of the chief executive roles having been in charge of both the commercial and personal insurance businesses until recently. John O’Neill, currently chief executive of Axa Ireland, will oversee the setting up of the new businesses and will lead the commercial insurance team on an interim basis while Axa searches for a permanent CEO. Steve Hardy, currently managing director of Axa Direct will take over the new role of chief executive of the consumer business and will join the Axa UK executive committee. Hardy was a founding director of Swiftcover and was appointed managing director of Axa Direct after its acquisition of the online insurer in 2007. His appointment, along with the appointment of the new chief executive of the commercial business, is subject to approval from the Financial Services Authority.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.” KCS-content Thursday 7 October 2010 9:45 pm whatsapp More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Show Comments ▼ Axa rejigs UK insurance as its chief exits last_img