National Mutual brand gets axe this weekend

By Richard Braddell

WELLINGTON - The 120-year-old National Mutual brand will disappear this weekend, to be replaced by that of its French 51 per cent owner, Axa.

The name Axa was chosen in 1985 because it sounds the same in any language, even though it has no meaning. It belongs to one of the world's fastest growing and largest financial services groups with $1.1 trillion in assets.

But while the National Mutual brand gives way to Axa New Zealand at the weekend, signage around the country will take six to eight weeks to disappear completely, and the name under which the Australasian operations are stock exchange listed, National Mutual Holdings, will remain the same in the immediate term, since shareholder approval is required to make the change.

The businesses under National Mutual Holdings umbrella will become known as Axa Australia, Axa New Zealand, Axa China Region.

At a launch yesterday, National Mutual's New Zealand chief executive, Ross McEwan, said the rebranding put Axa alongside global financial giants such as Citibank and American Express.

The aim was to position the group as the world leader in insurance and fund management services.