’This change will allow us to further strengthen our offering across our other intermediated products,’ says spokesperson
Axa has revealed that it will withdraw from the motorcycle market in March 2024.
In a statement sent to Insurance Times, the insurer said it was making the move following a review of its retail motor business.
It felt that scrapping its motorcycle book would help enhance its intermediary proposition.
Such policies from Axa are currently sold through intermediaries only.
Broker partners have been made aware of the move.
“Following a detailed review of the Axa retail motor business – and as part of our strategy to continue enhancing our intermediary proposition – we’ve made the difficult decision to withdraw from the motorcycle market starting March 2024,” an Axa spokesperson said.
“This change will allow us to further strengthen our offering across our other intermediated products. We have made our broker partners aware of these upcoming changes and will be supporting them with any requirements they may have.”
Moves
The move came after Axa announced several new hires for its retail arm in December 2023.
Read: Axa appoints Shepper and Aviva veteran as new retail intermediaries director
Read: Axa Retail names new top boss
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One of which was Alain Zweibrucker, who took up the role of retail chief executive.
The position sees him report to Axa UK and Ireland top boss Tara Foley.
A few days later, Matt Field was announced as the new retail intermediaries director.
He took up the role on 9 January 2024.
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
Now working within the insurance sector, James has a particular focus on motor, M&A activity and financial reporting.View full Profile
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