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Bureau meeting on 18 October 2023


For its second meeting of the autumn and last before the plenary session, the AXA Group European Works Council Bureau met in Paris and welcomed Marco Morelli, CEO of AXA IM, Frederic Clement, HR Director of AXA IM, Kirsty Leivers, Head of Culture, Inclusion and Diversity HRD Group, Francis Fievet Mailhebiau, AXA Mentoring and Youth Programme Project Manager, Scott Gunter, CEO of AXA XL and Karen Le Duc, HR Director of AXA XL.


AXA IM news and business challenges

Marco Morelli, CEO of AIM, has announced major changes since his last presentation in 2021. The company has consolidated the group's activities with those of Architas, in addition to maintaining its core activities and investments in illiquid markets. In view of market developments, and in particular the impact on liquid markets in 2023, AIM has reorganised its core business to remain competitive, including a voluntary redundancy plan involving around 100 job cuts, mainly in France, and agreements with the French social partners on the conditions of departure.

Hedi ben Sedrine, secretary of the CEG, notes that there is still room for improvement in the level of social dialogue in this entity.

Presentation of the Multigenerational Action Plan

Koen Hermans announces a new HR initiative aimed at valuing employees over 50 within the Group, following the signing of the Club Landoy charter by AXA France in June 2023. Kirsty Leivers and Francis Fievet Mailhebiau present the results of the Inclusion Survey. They show that these employees feel less involved and have fewer career opportunities. The Group's ambition is to enable the development of all employees, regardless of age, with an action plan comprising 7 HR and communication initiatives.

These actions are in line with the Landoy Charter commitments, adapted to local needs, for the period 2024-2026. A communication campaign will highlight the importance of intergenerational working and the opportunities offered by VIV to employees over 50. Local training teams will integrate these employees into their strategy, with a focus on raising awareness among HR business partners. The Group will create a dashboard with specific performance indicators to monitor progress and identify areas for improvement each year.

AXA XL's strategic priorities

AXA XL, a global company present in 28 countries, took strategic decisions in 2020 to improve profitability and implement a new operating model, which led to the exit of certain activities. These initiatives led to a reduction in the combined ratio from 107% in 2019 to 94.7% in 2022, despite the impact of the conflict in Ukraine. In the first nine months of 2023, AXA XL posted a total turnover of $16 billion and expects to reach $20 billion for the year, with a balanced distribution in terms of products and geographies.

Growth ambitions are based on the development of existing business through the Fusion programme, accompanied by initiatives such as support for international clients, the development of the mid-market offer in partnership with AXA General Insurance, cyber insurance and renewable energies. The Digital Business Platform uses data to advise clients on their risks, and AXA XL is focusing on attracting and retaining talent by focusing on expertise.

Read the secretariat's notes here: