Axa merges commercial and retail arms to launch new UK general insurance business

Axa UK and Ireland has created a new general insurance business.

Called Axa Insurance UK, the arm brings together the firm’s UK commercial and retail business units under a single leadership structure.

It will be led by current Axa Commercial chief executive Jon Walker, who assumes the role of chief executive for Axa Insurance UK.

Meanwhile, two managing directors for retail and commercial have been appointed. Julie Barbey will focus on retail, while Mike Crane will look after commercial business.

Both will report to Walker, who said: ”Creating a unified general insurance business gives us greater scale, sharper focus and the ability to respond more effectively to changing market dynamics.

“Commercial and retail will continue to serve distinct customer needs and operate in different market contexts. But by working more closely together, we will create a more resilient and competitive organisation.

“I’m proud of how our teams have continued to deliver during this period of review. Their focus and professionalism give us a strong platform as we move forward with clarity and purpose.”

’Significant step’

Axa said that as one general insurance business, Axa Insurance UK will benefit from greater scale and resilience in response to market dynamics, a more holistic view of underwriting performance and portfolio management, as well as stronger alignment of platforms, processes and best practice.

Tara Foley, chief executive at Axa UK and Ireland, said: “Bringing our UK commercial and retail businesses together as Axa Insurance is a significant step forward for Axa UK and Ireland.

“Under Walker’s leadership, retail and commercial will continue to serve their customers with the same focus and this unified general insurance business will be simpler, stronger and more agile, as well as better positioned to compete, grow and deliver for our customers and partners.

“By combining our expertise across personal and commercial lines, we will enhance our technical capabilities, accelerate the use of technology and artificial intelligence (AI) and scale best practice across the business. This move strengthens our competitive position and creates a more dynamic and attractive environment to work.”