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Organizational Restructuring at AXA: Adopting (and Dropping) a New Business Model |
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EXCERPTSA Change in Business Philosophy
Therefore, the company established separate outfits for business that came through agents, brokers and direct marketing (Axa Assurance, Axa Courtage and Axa Conseil respectively). However, within this framework, Axa too sold its policies in an undifferentiated manner. Reorganizing AXA - Phase IWhile the above changes were largely influenced by external factors, the proposed organizational restructuring exercise received a major boost from an internal issue - the company's reinsurance business.
With the strong financial backing of the parent company, Axa Re had reached 13th position in the list of top 25 reinsurance companies in 1999 (as per a survey of reinsurers ranked in terms of net premium written, conducted by rating agency Standard & Poor). Within France, Axa Re was the undisputed leader in this business.
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