Europe

Axa CS locates global support unit in Ipswich

Axa Corporate Solutions (Axa CS) has established a back office support unit for its international operations in Ipswich in the UK. The office will handle all the financial flows relating to Axa CS’s international operations and network partners. The Ipswich unit, according to Andrew Cockhill, head of strategic partnerships at Axa CS Services, will also aim to simplify the processes linked to the placing of international programmes. The new unit includes five multilingual credit controllers and two claims technicians. The launch of the unit follows Axa CS’s recent reiteration of its commitment to the expansion of its international network, with particular emphasis on the BRIC (Brazil, Russia, India and China) countries. The idea is to step up service levels for the company’s multinational clients operating in emerging countries. In some territories, Axa CS has strengthened its existing presence while in other territories it has entered for the first time. Axa CS is currently in the process of registering as a reinsurer in Brazil. Mr Cockhill said that the company was expecting a good tranche of retrocession business after registration. In Russia, Axa CS has a 37.0% stake in Reso Garantia with a call option for the remaining shares in 2010. In India, its joint venture with Bharti Axa General is becoming fully operational, while in China, Axa CS’s office in Shanghai has just completed its first year of operation. In addition to the BRIC countries, Axa CS has also established presences in Mexico, Switzerland, Albania, Bulgaria and Greece.