Chief exec says role is a unique opportunity

Bluefin chief executive Stuart Reid insists he has no plans to walk away from the AXA-owned broker any time soon.

Reid was responding to intense market speculation – centred on the expiry of his restrictive covenant with AXA?– concerning his future as boss of the broking business that he has led for more than two years.

Reid told Insurance Times that he was committed to running Bluefin for the foreseeable future, adding that he has “plenty to do”.

“I’m very, very happy where I am,” he said. “It’s not often you get an opportunity to run a business of this size with a relatively unique parent. I’ve got absolutely no intentions of going anywhere else.”

Reid has been associated with AXA for three years, following the sale of his old firm Stuart Alexander to the insurer in 2007. A year later, he was appointed as sole chief executive of the broking giant, which incorporated two other businesses: Layton Blackham and Smart & Cook, owned by Chris Blackham and Paul Meehan, respectively.

Bluefin is currently on the acquisition trail and has ambitions of reaching £1bn gross written premium by 2012. AXA chief executive Philippe Maso has admitted that he would consider selling Bluefin, but only for the right price.