Condron to Retire from Axa; Company Announces Several Promotions

Christopher “Kip” Condron, president and chief executive officer of Axa Financial, is retiring Jan. 1, the company said.

Condron, 63, who has been with Axa Financial since 2001, has also been in charge of Axa global life and savings and health business line and member of the management committee of the Axa Group.

In the wake of Condron’s decision, Axa has announced a series of promotions:

— Jacques de Vaucleroy will assume the responsibility of managing Axa global life and savings and health business line. He remains CEO of the Northern, Central and Eastern Europe region and a member of the Axa Group management committee. Before joining Axa in 2010, he spent most of his career with the ING Group, where he was a member of the executive committee.

— Mark Pearson will be appointed president and CEO of Axa Financial and chairman and CEO of Axa Equitable Life Insurance Co. He will also join the Axa Group management committee. He has been CEO of Axa Japan and a member of the Axa Group executive committee since 2008.

— Andrew McMahon, currently senior executive vice president of Axa Equitable and president of its financial protection and wealth management business, will be appointed president of Axa Equitable. He joined the company in 2005.

— Jean-Louis Laurent Josi will be appointed CEO of Axa Japan and will join the Axa Group executive committee. He has been CEO of Axa Gulf since 2008 and joined the company in 2006.

— Emmanuel de Talhouët, currently CEO of Axa Belgium, will join the Axa group executive committee. He joined the company in 2001 as a strategic auditor.

Attempts to reach the company for additional comment were not immediately successful.

Last month, Axa Asia Pacific Holdings Ltd. reached an agreement with and French parent Axa SA for the acquisition of the insurance group’s Australia and New Zealand and Asian operations to AMP and Axa SA, respectively (BestWire, Nov. 29, 2010).

Axa Equitable Life Insurance Co. currently has a Best’s Financial Strength Rating of A+ (Superior). Axa Financial Group was the 12th largest U.S. life/health writer based on 2009 admitted assets, according to BestLink, which provides online access to A.M. Best’s database of insurance information.

(By Meg Green, senior associate editor, BestWeek: Meg.Green@ambest.com)