Staff at Groupama are braced for change after the company appointed a new UK boss.
Pierre Lefèvre took over as chairman and chief executive last week.
His appointment follows the company's French parent taking the UK operation off the market and giving it backing for "at least five years".
Lefèvre was brought in from AXA's Netherlands business to fill the holes left by the departure of the UK's home grown chairman and chief executive officer Tony Lancaster and of commercial insurances managing director operations Stephen Hartigan.
Lefèvre was chairman and chief executive of AXA UK until 1997.
Market commentators expect Lefèvre to slash away unprofitable business, but some staff fear the baby could get thrown out with the bathwater.
The axe is likely to fall heaviest on Groupama's loss-making commercial lines, particularly larger risks.
Corporate strategy and support director Paul Picknett said: "There's a recognition that there's a new chief executive and inevitably he will wish to leave his imprint on the organisation. That will necessarily mean some changes. Within the executive team we are ready for change.
"We have to be careful not to destroy many of the good things we've done and the results, particularly of our motor book, are testimony to that. But we aren't complacent and there are many improvements we can bring about."
Preliminary results due to be presented to the board soon are expected to show that the group achieved a combined ratio of 97.3% last year on its continuing operations (this follows a portfolio transfer of discontinuing business) and generated premium income of £600m.
Picknett admitted that commercial lines had "lagged behind" personal lines, but insisted that "at the technical level we are in profit".
He said: "Pierre [Lefèvre] will wish to examine each aspect of the operation, but we are very anxious to ensure we write only profitable lines of business.
"Not all lines are profitable at the moment," he said.
