Fallon's appointment follows a review handled by the Axa UK marketing chief Cheryl Toner.
The review was a closed one, only involving agencies from the Publicis Groupe, which handles the account globally. Fallon pitched for the account with the help of Saatchi and Saatchi against Leo Burnett and Chemistry.
The Axa account had been handled by Team Saatchi since 2008, while the Axa Direct brand was handled by Mortimer Whittaker O'Sullivan. The agency will however continue to work on AXA’s Swiftcover business.
Axa's review follows a restructure in its marketing department, which included the expansion of Toner's role and the launch of its combined AXA Wealth unit.
The media spend across all Axa's brands in the year to April 2011 was £26.1m, excluding direct mail and door drops, according to Nielsen.
Havas Media Group currently handles Axa UK’s media planning and buying account.