Sun Life Provincial and Axa Equity & Law are considering marketing
themselves under an entirely new brand, following the announcement last
week that the two companies are planning a pounds 690m merger.
The newly-combined insurer, which will be the third-largest life
assurance and pension provider in the UK, is to use the Sun Life brand
to market life products through intermediaries while its direct sales
operation will be branded Axa.
But the company, a subsidiary of French Insurer Axa-UAP, will initially
trade under the name Newco, and will replace this with a new group brand
which could replace both Sun Life and Axa.
The insurer is to bring its marketing departments under one roof to
maximise cost savings. It may appoint a group marketing director to
oversee the rebranding. Rob Lee, general manager of marketing at Sun
Life, and Mike Ramsey, general manager, marketing, at Axa Equity & Law,
are expected to stay in their roles.