Archive for the 'AXA' Category

Unions – the ultimate insurance!

Finsec members from the insurance sector have met in Auckland and Wellington this week to plan for the year ahead and discuss important issues in the industry.

The meetings focused on how to increase Finsec’s profile in the industry, and to build our strength to achieve even better outcomes. Aki Kisona (pictured at left), a Finsec Union Councillor from Asteron, said the meeting provided a great opportunity for union members from throughout the sector to get together and talk through issues.

“The meeting showed that we’re all going through similar things at work, and that we share common views on how to improve things. We also generated a lot of good ideas about retention and increasing our membership,” said Aki.

Expect to see more Finsec news from the insurance industry in the new year, as ideas from the forums are put into action!


Our industry, our union – Finsec meetings for insurance members

Finsec members working in the insurance industry in Auckland, Wellington and Christchurch will have an opportunity to get together and discuss industry-wide issues at paid union meetings in early December.

Here’s the places you need to be if this includes you (times include 30 minutes for travel to and from the meeting):


Date: Thursday 2 December

Time: 8.30am to 10.30am (meeting commences at 9.00am)

Venue: Pioneer Womens Hall, 2 Freyberg Place


Date: Wednesday 1 December

Time: 8.30am to 10.30am (meeting commences at 9.00am)

Venue: St Andrew’s on the Terrace, 30 The Tce


Date: Thursday 2 December

Time: 8.30am to 10.30am (meeting commences at 9.00am)

Venue: Trade Union Centre, 199 Armagh Street

If you have any questions about the insurance industry forums, ring 0800 FINSEC or email

Jobs at risk in AXA potential takeover

Finsec has said a potential merger between AMP and AXA could come at the expense of local jobs. This week, the Australian competition regulator rejected an AXA takeover by BNZ parent company NAB, but said a rival bid from AMP would be ok.

Finsec General Secretary Andrew Casidy told the Dominion Post that job losses and centralising back office functions to Australia could well be a feature of the merger, and said “It is hard to see if AMP was successful in getting control of AXA how there wouldn’t be quite some pressure to look at those things and further wind down job opportunities in the New Zealand operation.”

Finsec members at AMP have just ratified their collective agreement, while members at AXA took part in bargaining this week.

AXA settles for 4%, profits rise by 22 percent

Collective employment agreement negotiations between Finsec and AXA concluded this week with a 4% salary increase. 

In the same week AXA, a fund manager and insurance group, also announced that it had increased its operating profit by 22 percent to $59.1 million last year and aims to double the business in five years. 

“While workers were happy to achieve a 4% wage increase it is important to remember that investing in New Zealand through workers wages is the least Australian owned business can do,” said Finsec Campaigns Director Andrew Campbell.

AXA signs up to British ‘Charter for Women’

Equal Pay CampaignAXA has become the first financial services company in the UK to sign up to the ‘Amicus Charter for Women’. Amicus, the British finance sector union, is campaigning to end the discrimination and consequent unequal pay hitting women. Although women make up the majority of staff working in the British financial services (55%), the finance sector has the largest pay gap of any sector. Women on average earn 43% less than men.

Amicus has drawn up a charter, which it expects all leading financial services providers to sign up to. The charter will commit employers to work with Amicus to tackle the root causes of pay inequality. Amicus believes that ending inequality in women’s pay and career progression is good for business and that employers can not afford to overlook the contribution that women can make if they are allowed to break through the glass ceiling. Pay inequality is also a family issue because it impacts on family incomes.

Story from UNI Finance

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