View more on these topics

Reshuffle sees Axa split into product divisions

by Nicola York

Axa is to restructure its UK life and pension business radically in a move that separate all its sales and marketing functions across product lines.

The move follows a business review after Axa’s acquisition of Winterthur in June. The combined business will be split into divisions to deal with specific product lines, including wealth management, corporate business, protection, wrap and advisory services business.

The two brands are being retained, with Axa as the mass-market brand and Winterthur building on its high-net-worth business. Axa has not ruled out job cuts, after slashing 200 insurance roles in July, but says it may bring in some high-profile people to head some of the divisions.

Winterthur chief executive Mike Kellard stays in his current role and will also take charge of Axa Life’s wealth management business, individual pension and investment and international business. Kellard will also be building a new fund management proposition in a bid to raise Axa’s profile among IFAs.

Axa Life chief executive Paul Evans says: “This is primarily about refocusing our business. We think this new structure will give us an edge that maybe we do not have at the moment. The market will change more in the next five years than it ever has done before. These changes have been made in part as a response to what is happening in the market at the moment.”

The changes will take place from January 1 next year but Evans stresses there will be no changes to the Thinc Group.


2000 BTL products on has now hit 2,000 buy to let mortgage products on its site.The online sourcing system put live its 2000th product as Chelsea building society’s ex-pat two-year fixed rate mortgage went on eMoneyfacts. Senior analyst Alan Harper says: “This represents a continuation of the staggering growth in the sector over the past few years. Not […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm