AXA XL's organizational restructuring looks to form a united division
The proposed plan may potentially reduce 711 positions in Europe, out of a workforce of 9,500 employees globally.
After then-AXA completed its acquisition of then-XL Group Ltd. to form AXA XL, the company announced the next step in its integration of AXA Corporate Solutions, AXA Matrix, AXA Art and XL Catlin.
After the closing of the acquisition in September 2018, several teams worked together to form a united AXA XL division. In Europe, AXA XL began transferring employees into a single employing company at the beginning of February and, subject to regulatory approvals, commenced plans for merging certain legal entities.
Now it looks to the next phase of integration.
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Out with the old, in with the new
A draft plan for the division’s target operating model and organizational structure was presented to employee representatives in countries where formal consultations are applicable, according to a press release. This includes France, Italy, Germany and the U.K. Other plan proposals look to support the division’s combined operations.
The proposed plan may potentially reduce 711 positions in Europe, out of a workforce of 9,500 employees globally. Combining what were previously separate teams and activities into one structure means AXA XL will need to redefine its working processes and organization accordingly.
“This is a very important next step for AXA XL in its journey to become a united division,” Greg Hendrick, CEO of AXA XL said in the press release. “This proposed target operating model and organisational structure will help us deliver the best services to our customers and provide them with the innovative solutions they need to succeed.”
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