WPP has won AXA’s global media account following a ten-month review, the holding company confirmed.
The business, estimated to be worth around $161 million by COMvergence, will be handled by Wavemaker and GroupM in close to 30 markets — making WPP one of AXA’s largest marketing services partners.
WPP's media business will be handled by Wavemaker in all markets bar France, where it will be handled by GroupM.
The incumbent is believed to be Havas Media. Representatives have not yet responded to a request for comment.
Meanwhile, Publicis retains the creative account following a ten-year relationship with the insurance giant. It will also take on a slice of strategy and media buying business in four markets.
Mark Read, CEO of WPP, said: "AXA is a great brand and we are very proud to have been given such an extensive brief to support its development through the media, technology and data expertise of Wavemaker and GroupM."
Toby Jenner, Wavemaker’s new Global CEO, added: "We are delighted to begin a new relationship with AXA. To have won their business and be their chosen partner as they transform into a services company says everything about the breadth and depth of Wavemaker’s ability to deliver transformative solutions."
This is the latest in a series of new client assignments and wins for Wavemaker, which include Huawei (across multiple markets, including China), China Mobile, Australia Post, Eurostar in Europe, William Hill in the UK and the global retention of Chevron.
Arthur Sadoun credits the retention with Publicis’ ‘Power of One’ model.
Arthur Sadoun, CEO of Publicis Groupe, added: "After LVMH, Mondelez, Novartis and more recently Disney, the AXA Group's renewed trust is another demonstration of the relevance of our integrated model of creation, media and data, which perfectly meets the major marketing transformation needs of our clients."
Agathe Bousquet, president of Publicis Groupe in France, added: "Firstly, it is a great source of pride to be able to work for a brand like AXA. It is also a real opportunity for Publicis to spearhead a new integrated approach in some of their key countries.
"At a time when AXA is leading a real revolution, changing its business model and reinventing its relationship with its customers, we are very happy to be strategically partnering with the brand in its transformation around the world."
Representatives from AXA have not yet responded to a request for comment.