Axa XL

At CNA, the executive managed a $500mn P&L for mid-market business out of New York.

Inside P&C’s news team runs you through the key highlights of the week.

Axa’s lack of success in selling its more volatile XL Re segment has led the insurer to cut back on those lines, but the current rate environment makes this a good time to revisit a sale.

The French carrier is exploring the spin-off of the XL Re operations via a private sale or stock market listing, according to Reuters.

At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.

The appointment comes after a slew of cyber reinsurance brokers left Aon to join Howden.

The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector. 

The company elevated Ken Mueller to head of inland marine and Brett Musser to head of marine liabilities for the Americas.

The insurer plans to launch a mid-market-focused division in July, offering workers' comp, commercial auto, GL, property and umbrella coverages.

Casey Santangelo joins has head of fine art & specie across the Americas.

The firm hired Jonathan Lacorazza from CNA, Carol Warfel from AGCS and Cy Villarosa from Great American.

Tristan Abend has been with the Axa XL Reinsurance team for 10 years.