AXA Commercial Lines has today set out its multi channel distribution strategy that aims to see the insurer grow revenues to £1.2 billion with a COR of 95% by 2015. Amanda Blanc, CEO AXA Commercial Lines comments: “AXA Group has signed off our strategy to 2015 demonstrating their endorsement of our achievements so far and [...]
AXA Commercial Lines has launched its tradesmen and professional liability products on PowerPlace, the online commercial insurance marketplace. Policies are available to the self-employed and small businesses of up to eight persons with a turnover of £500,000 or less. Public liability and temporary staff cover (for up to 50 man days in any period of [...]
European motorists think Brits abroad are a danger on their roads, according to AXA. In its annual holiday driving survey, the insurer estimates that around seven million Britons are likely to be driving abroad this summer but the research indicates that only one in five Europeans think Brits drive carefully outside the UK. The biggest [...]
AXA Wealth has secured a contract to provide a new financial advice service to Co-operative Financial Services’ (CFS) five million retail banking customers. The seven-year distribution agreement, which runs from October 2011, includes an investment, pension and life insurance advice offering, and the partnership will deploy 325 advisers across the CFS branch network. The new [...]
Co-operative Financial Services (CFS) is in exclusive talks with Royal London regarding the possible sale of its life insurance subsidiary, including £15 billion of assets in its Long Term Business Fund. The announcement follows a strategic review of the mutual’s life and savings business, which will also result in the extension of its partnership with [...]
Motorists are being warned by AXA that 13 million of them are providing burglars with their home address, and 8 million are risking their house keys as well. AXA home insurance believes that the rise in burglaries is partly due to SatNavs and is advising motorists to change their ‘home address’ to help reduce related [...]
AXA has announced that it will no longer accept referral fees from personal injury lawyers, as it continues to call for whiplash injury reform. The insurer has never sold customer details to personal injury lawyers or accident management companies, and with immediate effect will no longer accept fees from personal injury lawyers when it puts [...]
While nearly one in four Brits would think twice about buying a house numbered 13, AXA suggests that addresses beginning with 88 are the ones to avoid, having topped the list for burglaries in 2011 and featured in the top ten for two years in a row. According to the insurer’s research, the most unlucky [...]
AXA has agreed to sell its Canadian operations in property & casualty and life & savings insurance, to Intact Financial Corporation. The disposal is being made for around €1.9 billion and the transaction should generate an exceptional capital gain of approximately €0.9 billion, which will be accounted for in net income. In addition, AXA is [...]
AXA Commercial has been granted chartered status after meeting a combination of compulsory and discretionary criteria that cover a range of practices and behaviours recognised as evidence of its commitment to professionalism. Chartered insurance companies must ensure staff members acquire and retain the necessary knowledge and skills to deliver the highest quality advice and service. [...]
Insurers have lost a legal battle to overturn the Damages (Asbestos-related Conditions) (Scotland) Act 2009. Enacted by the Scottish Parliament, the legislation provides that asbestos-related pleural plaques and certain other asbestos-related conditions, constitute personal injury actionable under Scots law. Insurers have long argued that the plaques, which are areas of fibrosis present on the inner [...]
The country could see a surge in burglaries during the Royal Wedding, according to home insurer AXA Insurance. Research commissioned by the firm indicates 40% of Britons will be out of the house during the state occasion, with 21% opening their doors for a party with friends and family. Unfortunately, burglars tend to be wise [...]
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 [...]
Early access to pension money is not without risks, according to new research commissioned by AXA Wealth. The research found that 62% of IFAs believe that earlier access would lead to clients running out of money and becoming dependent upon the state. As life expectancy continues to increase the issue of retirement and the money [...]
Independent financial research firm Defaqto has awarded AXA Wealth six 5 star ratings, the highest accolade possible. Defaqto is a specialist in the comparison and evaluation of financial products, and the granting of its highest rating is recognition of AXA Wealth’s comprehensive range of quality products. AXA Wealth’s wrap platform, Elevate, has received a 5 [...]
AXA Wealth International has announced the appointment of Tony Kisby as the firm’s new international development manager. Kisby’s appointment comes as part of AXA’s strategy of retaining its strong position in the market, and he will be tasked with leadership of the firm’s North England, Scotland and Northern Ireland sales teams. He brings more than [...]
Seven insurance companies and two IT software and service providers have provisionally agreed to limit the data they exchange, following competition law concerns raised by the Office of Fair Trading (OFT). Ageas, Aviva, AXA Insurance UK, Liverpool Victoria Friendly Society, RBS Insurance, RSA and Zurich, plus IT firms Experian and SSP, have all offered formal [...]
AXA UK’s Commercial Lines business is to get a Valentine’s present, in the form of incoming chief executive officer Amanda Blanc. Blanc, who takes up the position on 14 February, will assume overall responsibility for the business, including distribution arm, Bluefin Insurance Group. She will report directly to AXA UK Group Chief Executive Officer Paul [...]
