AXA's new CEO bets on digital for growth
Add BT as a preferred source
[PARIS] French insurer AXA's next chief executive, Thomas Buberl, plans to focus on developing its digital business rather than large acquisitions to drive growth, he told the Financial Times newspaper in an interview published on Tuesday.
Buberl was named deputy CEO of AXA on Monday and is due to take over from departing boss Henri de Castries on Sept 1.
"There is a question over whether we should increase the size of the franchise or should we put focus on transforming the business model for a digital future," the FT quoted Mr Buberl as saying. "I think that digital should be our focus."
This strategy will be vital in a world where AXA's competitors might be Google and Facebook, Mr Buberl told the FT.
As for acquisitions, Buberl was quoted as saying that AXA would in future be "more focused on transactions that are smaller".
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
