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Axa scraps Sun Life branding

CGNU has expanded its presence in Asia by buying the insurance arm of

Singapore-based bank DBS for £152m. The deal with DBS, the biggest

bank in South-east Asia, puts CGNU in league with Prudential&#39s Asian

operations. CGNU will combine the DBS insurance arm with its existing

Singapore business and will sell through DBS branches. It is now applying

for licences in China and India.

Axa is dropping the Sun Life brand from the UK to bring the company in

line with its worldwide operations.

IFAs will see the Sun Life brand gradually disappear from Axa&#39s product

range over the next six to nine months.

Axa says it has already taken steps to filter out the Sun Life brand by

selling Axa-branded Isas earlier this year. The group&#39s stakeholder was

launched under the Axa brand. This product-by-product approach will be used

to phase out Sun Life as products are enhanced and updated.

Former Prudential retail marketing director Frank Wilson was recruited by

Axa in November as marketing director to oversee the change.

Sun Life has been the group&#39s brand in the IFA channel since the takeover

in 1997. Axa believes that IFAs will be comfortable using Axa-only branded

products.

Axa has been using its sponsorship of the FA Cup to push its brand in the

UK since 1998 and now believes the brand recognition is strong enough to

let it stand alone.

Axa spokesman Peter Webb says: “It is no secret that we have been moving

towards the Axa brand world wide, but this is gathering pace now in the UK

with the obvious sign being our sponsorship of the FA Cup.

“We started with Isas and stakeholder and this process will continue. Axa

is becoming a globally known brand. It is not a new name anymore and IFAs

know what we are about.”

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