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The French insurance giant Axa has parted company with JWT after just two years.
The UK advertising account, worth pounds 22 million, will be handled by Grey Worldwide's Australian agency, which won Axa's ad account in that market last year.
Grey is said to have come up with a creative idea for Axa Australia that the insurance giant believes will work well in the UK, negating the need for a UK agency.
According to an Axa spokesman, the company feels it no longer needs a UK advertising agency.
JWT won the Axa account in 2003 in a shoot-out against DDB. TBWA\London, Publicis, BMP, ...