The Administrative Court in Warsaw in its judgment of 16 February 2018 (ref. no VI SA/Wa 2124/17) ruled that Michał Kwieciński, former AXA CEO, is a party to the proceedings in a dispute with the Financial Supervision Advisory.
On 24 May 2016 the Financial Supervision Authority (KNF) refused to give consent to Michał Kwieciński’s appointment as AXA CEO. KNF said that Kwieciński did not meet the statutory requirement of providing warranty to duly conduct insurance company matters (according to article 48 of the Act on Insurance and Reinsurance Activity).
In connection with the KNF decision, Michał Kwieciński submitted his resignation from the position of AXA Poland’s CEO. He appealed against KNF’s decision. The institution dismissed the appeal. According to the Authority Kwieciński is not a party to the proceedings. He should be represented by the company. The Administrative Court in Warsaw did not agree with KNF’s statement. This means that the Authority will have to reexamine Kwieciński’s application.
Kwieciński started working at AXA in 2005. Before he had worked at Liberty Mutual Insurance for 8.5 years. He was CEO, Vice-President and Chief Operating Officer (COO). He had also worked at McKinsey & Company as a consultant and at Jagiellonian University as an assistant professor.
