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Axa restructures, sells last UK operations to Phoenix

27 May 16

French insurance giant Axa announced the sale of the remaining parts of its UK business to the Phoenix Group on Friday, and unveiled a new-look global business structure from incoming chief executive Thomas Buberl.

French insurance giant Axa announced the sale of the remaining parts of its UK business to the Phoenix Group on Friday, and unveiled a new-look global business structure from incoming chief executive Thomas Buberl.

“I have shaped this management committee – both in terms of the executives and the allocation of responsibilities – with a view to ensuring that we will work and act collectively as one team to define and execute the Group’s priorities, together with our 166,000 employees and distributors worldwide,” Buberl said.

The company said the new structure was designed to reinforce the role of large countries and Global Business Lines, while the group’s regions will be repositioned to focus on the development of emerging and smaller markets (emerging markets), in Asia and in the rest of the world.

Following the appointment to the new management committee, Axa also announced the following senior appointments:

  • Amanda Blanc is appointed chief executive of Axa UK & Ireland,
  • Nick Lane is appointed chief executive of Axa Japan, and
  • Wilm Langenbach is appointed chief executive off Axa Emerging Markets, EMEALA (Europe, Middle-East, Africa and Latin America).

Pages: Page 1, Page 2

Tags: Axa | Phoenix | Sun Life

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.