AXA Assicurazioni, a fully owned subsidiary of AXA, has announced that Massimo Michaud, its CEO since 2001, will leave the company. Mr Michaud will be replaced by Andrea Rossi, CEO of AXA's activities in the Arabian Gulf region.

Jean-Louis Laurent-Josi takes over as AXA Gulf CEO from Mr Rossi, who will remain on the board of AXA Gulf and AXA Saudi Arabia. Paul Adamson, currently AXA Gulf COO for sales and distribution department, becomes AXA Saudi Arabia CEO in addition to his current role. He will report to Mr Laurent-Josi.

Both will be placed under the responsibility of Jean-Raymond Abat, CEO for the company’s Mediterranean region.

Mr Rossi joined the AXA Group’s business, support and development department as a director for southern Europe, Latin America, Maghreb and Middle East in 2001. He had previously held several management positions at Aegon and GE Capital.

Mr Laurent-Josi joined the AXA Group with Winterthur’s integration in 2006 to manage AXA Belgium’s multi-distribution activity. He was previously managing director and COO of a Belgian bank, before being in charge of life underwriting business, and then retail and SME division for Winterthur-Europe Assurances.

Mr Adamson joined the AXA Group in January 2005 as AXA Gulf COO of sales and distribution department. He previously held several management positions at Norwich Union Saudi Arabia, after having held many other responsibilities in the financial services industry.