Global insurer
AXA announced yesterday that it has appointed Fred DeMinico as head of independent distribution in the US as it seeks to strengthen the channel with “fast, competitive and proactive service.”
DeMinico will report to Trey Reynolds, head of life distribution in the US.
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“The best way we can demonstrate our commitment to the independent distribution space is by having the very best talent to serve our partners, the most robust life insurance platform and efficient communication that helps independent distributors keep their business momentum moving,” Reynolds said.
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DeMinico worked for John Hancock over the past two decades – starting in the annuity and long-term care areas before transitioning to the life team. He made his way to the VP of national accounts position, where he was responsible for several of their largest relationships and helped broaden Hancock’s independent channel.
“Our commitment to the independent channel is evidenced by the quality of leadership we’re bringing to this market. Delivering competitive life insurance offers in a timely fashion with proactive service is how we’re responding to a changing and demanding market,” Reynolds said.
“Last May, AXA CEO Thomas Buberl revealed plans for ambitious growth, as the firm will reportedly invest up to €1 billion a year in acquisitions, €5 billion (approximately £4.3 billion) up to 2020.
The future is growth,” said the business leader in an interview with Il Sole 24 Ore- ItalyEurope24. But Buberl clarified that spending will be “targeted,” as he ruled out big acquisitions and capital increase. The publication reported that AXA is seeking to bolster its casualty and health insurance arms, only in countries with strategic relevance.
“We will make targeted acquisitions, in casualty and health insurance, and in specific areas like Asia, or Europe, where in some countries we want to increase our market share, including Italy. Then we want to become bigger in casualty insurance in the US and in South America, for example Brazil,” said Buberl in the interview.
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