Axa chief delivers keynote address

"The leading insurance groups have fallen behind the rest of Europe," said keynote speaker, Axa group chief executive, Henri de Castries at the UK Insurance and Financial Services Conference.

"In the past, you would look at the market cap of the large UK players and they were the leaders in the European market. Now you look at the market cap of the leading UK players and they are half that of the leading European players. They have lost ground."

He indicated that one of the reasons for this

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