AXA is reviewing its £12m UK media planning and buying account out of OMD.

The insurance and investment giant is rethinking its agency arrangements as it pursues a shift in business strategy following the appointment of chief executive Nicolas Moreau last year.

AXA is changing its focus from independent financial advisers to developing direct customer relationships.

Last summer AXA appointed a new UK marketing chief in Olivier Mariee, who joined from the company's Paris headquarters (Marketing, 31 August 2006).

The company's creative duties are handled by Grey Australia. It won the UK business in 2005 after coming up with an idea for Australia that would translate well to a UK audience. The agency is unaffected by the review.

Separately, OMD this week picked up Royal Mail's £18m business out of Carat.