French insurer Axa has kicked off its latest panel review, with the overhaul coming as group general counsel George Stansfield takes up an additional role as head of human resources (HR).

The Paris-led tender process, which started earlier this month, is the first comprehensive review of the insurer's legal advisers since May 2009, when Axa named at least 11 firms to its panel, including Clifford Chance (CC) and Norton Rose.

The latest review, which is being led by Stansfield, is expected to result in successful firms being appointed for two-year terms from May 2011.

All of the existing panel members have been invited to pitch, as well as around six further firms currently instructed on an ad-hoc basis. It is understood that the tender document contains a request for a breakdown of fee structures as well as an analysis of value-added extras.

One relationship partner commented: "The insurer has emphasised its intention to slash legal spend as well as the need to work in conjunction with in-house legal teams to manage the scope of work effectively."

Axa's last review saw CC, Clyde & Co, Norton Rose, Eversheds, Simmons & Simmons and Holman Fenwick Willan appointed alongside US firms including Debevoise & Plimpton, Edwards Angell Palmer & Dodge, Dewey & LeBoeuf and Mayer Brown. French law firm Gide Loyrette Nouel was also appointed.

Stansfield is set to take up the additional role as head of group HR from the beginning of November. He will also sit on the insurer's executive committee.

Axa drew up its first global panel in 2006, when Linklaters and Lovells also won seats on the roster. The insurer declined to comment on the latest review.