As part of a strategic review, AXA XL has announced a new leadership team and proposed changes to the operating model of its insurance business.
The proposed changes include the creation of a single global insurance underwriting function and the establishment of three geographical Business Units across Americas, Eurasia and the UK & Lloyd’s market.
The underwriting function will be led by a global chief underwriting officer (CUO), who will be working to design the structure of the proposed model.
The CUO will be responsible for underwriting governance, pricing, P&L and the management of the global heads of business lines in order to define and drive product strategy.
The three geographical Business Units will be led by CEOs, who would be responsible for the balance sheets of their geographies and managing talent.
Scott Gunter, AXA XL CEO, announced the following leadership team who will responsible for the build out of the envisaged operating model:
Nancy Bewlay, CUO; Joseph Tocco, CEO, Americas; Scott Gunter, interim CEO, Eurasia; Sean McGovern, interim CEO, UK & Lloyd’s market; Charles Cooper, CEO, Reinsurance; Brent Hoffman, chief claims officer; Karen le Duc, chief human resources officer; Matthieu Caillat, COO; Noel Richardson, chief risk officer; Rainer Schoellhammer, chief finance officer; Sean McGovern, general counsel.
Gunter, CEO said: “AXA XL is the result of acquisitions and mergers and with our increased scale, now is the time to optimize our structure by striking the right balance between local and global decision making so we remain agile and flexible.”
Adding: “I have spent my first 60 days as CEO considering our priorities and our structure and assembling the right team to drive AXA XL forward. We want to continue to serve our clients and brokers to the very best of our ability while being a simpler organisation to navigate. The regional structure would mean decisions can be made faster in country, while the global functions would mean our clients and brokers continue to benefit from our global expertise and experience.
“This Leadership Team is an international, highly experienced team of individuals: around half the team have a background at legacy XL Catlin, while the other half bring diverse and valuable experience from across the AXA Group.
“This is a positive step forward for AXA XL and I strongly believe that this new Leadership Team will ensure we are the insurance partner of choice across business lines and around the world.”