Axa Equitable Life Insurance Co. announced that it promoted Claude A. Methot to executive vice president of life and annuity product development.

Mr. Methot, who is a member of the Axa Group unit's executive management committee, will oversee the development, management, and implementation of business plans for Axa Equitable's life insurance and annuity products, according to the company.

He has worked for Axa Equitable since September of last year as a senior vice president and chief product officer. Before that he had been a senior vice president for Axa Group.

Mr. Methot joined the company in 1999 as a corporate actuary. In 2002 he became group chief actuary and director of product development for life products.

Axa Equitable, which announced the promotion Wednesday, had $802.9 billion of assets under management as of June 30.

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