In response to the story that Axa is to sell some UK businesses (FA, 27 August), this comes as no surprise at all as I believe Axa was never really committed to the UK.
In fact it was only committed to high prices. It was a sad day when it acquired PPP – premiums went through the roof. The good bits of Axa are its people, and they will find safe havens elsewhere. I well remember their previous boss Claude Bébéar being more than a little antipathetic about the UK.
Also, it is worth bearing in mind that the current board is, naturally, made up with a preponderance of Frenchmen. The French – and I am a Francophile – are not overtly known to be Anglophiles.
Harry Katz
Consultant,
HA7 Consulting,
Stanmore,
Middlesex
