Dear Colleague

2007 is going to be a challenging year for us all at AXA. Moving to the new structure is already giving each of our business units much more freedom to take quicker decisions and be much more entrepreneurial in the quest for profitable growth. This is exactly what we need to create and take advantage of the many opportunities which are available to us on our journey towards Ambition 2012. But we all know it is a hugely competitive market out there and our rivals are not going to let us have it all our own way. We need to be one step ahead at all times.

That’s why we have introduced Accelerating Success for 2007. This new incentive programme for everyone in the distribution network will operate between January 1st and April 30th 2007*, and has been specifically designed to reward outstanding contributions. Whatever role you have in whatever business unit, there is a terrific range of awards to compete for, and lots of flexibility built in, so that true contributions from everyone can be recognised by the Senior Management team throughout the campaign period.

There is no doubt in my mind that the recent changes will produce great benefits for everyone in the Company. But we all know too that this first part of the year is vital to achieving a great 2007. So, have a good look through the site for more details of what you can win and let’s all accelerate our success in 2007.

Good luck to you all and thank you for your continued efforts.



Mark Cliff

Managing Director Markets