AXA commercial restructure puts 114 jobs at risk
AXA Commercial Lines is undergoing a restructure aimed at maximising relationships with its brokers and revitalising local trading.
According to the unit’s chief executive officer, Amanda Blanc, the business intends to “empower its branches and move decision making closer to the customer with support from leaner, more nimble central functions”.
In future, branch managers will have profit and loss accountability with full control over sales, underwriting and operations.
In addition, specialist markets & solutions and distribution functions will merge, coming under the leadership of Matthew Reed, who will be responsible for the intermediary and direct trading infrastructure of the business.
Mr Reed will be joining in the summer from PowerPlace and Ms Blanc has also announced the following appointments to her leadership team: Evan Waks has been appointed finance director, joining the business from AXA Wealth; Karen Osborne has been appointed strategic projects director, moving from head of intermediary and partner experience at AXA Insurance.
As a result of the restructure, there are 114 potential redundancies and Ms Blanc comments: “We have done all we can to minimise the impact on individuals but unfortunately some tough decisions have had to be made.”
Category: Axa Insurance News, Business Insurance News, Employment News, Insurance News
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