Singapore business not for sale, says AXA's new local boss

Singapore

FRENCH insurer AXA's Singapore operations are not for sale, says its newly installed chief executive Jean Drouffe, even as the company's C-suite had set the wheels of change in motion.

His remarks come after global CEO Thomas Buberl in November said Singapore, along with 25 other markets have been earmarked as operations that are too small or with too little scope for growth.

Speaking to The Business Times, Mr Drouffe, who took over the reins more than four months ago, points out that Asia has been identified as a growth engine for the group.

"This is not an entity which is a run-off. This is…