Axa is apparently no closer to appointing a successor to Mark Wood, its UK group chief executive.

Three months have elapsed since Wood announced his intention to step down from his job and take up a new post as head of Prudential's UK and European insurance businesses.

His role will include overseeing Egg Insure, Prudential's internet insurance venture. He is due to start work at Prudential on June 20.

A source close to Axa said its headhunters were continuing to seek suitable candidates both inside and outside the insurance industry and a shortlist has yet to be compiled.

The heads of Axa's four businesses are also believed to be strong contenders for the top job to head Axa's group activities.

But the source added that Axa would not be rushed into selecting a successor to Wood. His duties have temporarily passed to Axa group chairman Anthony Hamilton.