AXA Wealth reported strong new business of £3.9bn in 2010, up 41% compared to 2009, as the group restructured after the deal with Resolution.
Following the £2.75bn sale of AXA UK's traditional life insurance business to the consolidator, the group refocused around a number of separate areas including AXA Wealth which is supported by the Elevate wrap. The group says: "The retained AXA Wealth business represents a fast-growing, capital-lite and Retail Distribution Review ‘ready' business with new business revenues of £3.9bn (up 41%) and £18bn funds under management." It says Elevate now has the backing of 900 registered IFA firms and £2bn funds under administration. Meanwhile, 2010 underlying earnings for the AXA UK group i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
