Axa XL

The carrier has been exploring launching into P&C organically or via acquisition.

He was appointed CUO of casualty, Americas, in July last year. 

Ransomware claims have made up the majority of recent large losses.

One of the options being explored is setting up a dedicated company for the wholesale vertical.

Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.

This publication revealed yesterday that Sompo is currently in negotiations with Aspen.

The executive had previously worked four years as head of trade credit for AIG.

The move consolidates the company’s leadership of primary and excess construction casualty lines.

The result has been a sharp increase in the use of captives.

The exec said if he were a carrier CEO, now is the time he would start looking for deals.

Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.

The executive joins after 20 years with Lexington.

Coverages include missed bid reimbursement, contingent bodily and property damage, and drone use violations.

Axa XL Re has hired former Swiss Re executive Greg Schiffer as its North America CEO, effective from 11 November.

Chris Caponigro will be responsible for expanding Axa XL’s product offering and investor base.

Expansion of the middle-market book is an ongoing focus.

The carrier has made several recent high-level promotions.

This expansion will protect against risks faced by transportation and logistics businesses.

A quick round-up of today’s need-to-know news, including Ryan Specialty and Skyward Specialty.

Axa's newly formed teams join the company's "complex cyber" unit.

A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.

A roundup of today’s need-to-know news, including leadership changes at Chubb.

It made several new appointments in its large commercial business unit, as well as its client and distribution team.

Gittler joined Axa XL in 2012 and had led the cyber underwriting team since 2021.

Lee and Barker were promoted to underwriting and distribution leadership.

The appointment is part of a reorganization of the Americas business.

The realignment will bring together more product lines for Axa’s mid-size clients.

Michael Yeats will now lead the automatic reinsurance facilities division in the US.

The appointment is part of Axa XL's plans for a more client-centric approach.

This is the second recent deal in the US crop sector after the $240mn AIG-AFG transaction.

He will also step down as ABIC chairman.

The company provides reinsurance to insurers in LatAm and the Caribbean.

Duties will include setting strategic direction in marine, aerospace, and specialty niche lines.

Laura Johnson most recently served as head of E&S primary casualty.

She has over 15 years’ experience managing PL and cyber portfolios.

John Schwirtz will report to Matt Waters, head of Axa XL's US mid-market business, and build out a mid-market underwriting team.

Based in New York, the executive will report to Axa XL CUO Libby Benet.

Pilko will succeed Joseph Tocco, who is retiring after more than 12 years with the company. He will remain as special adviser for the remainder of the year.

Having already served in the role in an interim capacity, Hopkinson will now permanently head up the company’s insurance operations north of the border.

The executive will be responsible for overall performance of the company’s insurance operations in the region and report to Axa XL’s US country manager Matt O’Malley.

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.

Based in Exton, Pennsylvania, Baron reports to Axa XL head of construction primary casualty Michael McKinley.

Prior to her promotion, Kareen Richardson was a vice president, senior underwriter, in Axa XL’s excess casualty team.

The executive joins from Purves Redmon Limited, and brings more than 30 years of industry experience.

Axa XL has promoted Michael McKinley to senior vice president and primary casualty practice leader within its North America construction division.

Last month, Axa XL appointed Mark Twite as CEO for its Bermuda reinsurance operations.

Prior to his new role, Mark Twite served as global head of reinsurance finance at Axa XL.

Before his stint at Axa XL, Bryan Stevenson worked for five years at Old Republic’s construction practice as SVP.

In their new positions, the executives will report to Chris Kopser, Axa’s president and CUO of primary casualty, Americas.

Based in Toronto, the executive’s main role will be strengthening and building relationships with Canadian clients and their brokers.

The company expanded its cyber team in LA with senior underwriter Marisa Vero and in Minnesota with underwriter Hanna Baker.

Michael Perrotti will assume the CUO role from Anne Marie Elder, who will focus on her role as global CUO for the company’s marine business.

Lee, who joined Axa XL in 2013, will be responsible for underwriting management of the E&S property business.

Waters comes to the company from Liberty Mutual, bringing more than 20 years of middle market underwriting management experience.

Vern Suckerman has been named head of US complex accounts while Rachel Rossini has been appointed product manager for cyber and technology E&O.

Peter Kiernan replaces Simon Penney, who is moving to an analytics role.

The hires include Melissa Sowa from AXIS, John Birkhofer from Hallmark and Michelle Anderson from Argo.

In his new position, Brooks will oversee the strategy around Axa’s program partners, reporting to the company's Americas CUO Donna Nadeau.

The executive replaces Nancy Bewlay, who has moved to run the reinsurance division.

In a string of appointments, the carrier has also promoted Enrique López Torrents to country manager Iberia.

Burnett joins Swiss Re from Axa XL, where he worked for over five years as E&S property head.

Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.

Based in Washington, DC, Okolski will report to Jeff Abramson, underwriting manager for special risks, PRCB.

Theresa Schlageter was named head of US Risk Management, Primary Casualty – one of four promotions in the division.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Based in Toronto, Zhou and Lui report to Jennifer Arezes, head of property, construction and energy in Canada.

The transaction will see Catlin redomiciled in Oklahoma, moving it from Delaware, to make use of the Oklahoma Insurance Business Transfer Act.

The executive will continue to be based in Atlanta, Georgia, reporting to design professional’s CUO Douglas Strong.

In her new role, De Rosa will oversee Axa’s construction and engineering treaty and facultative portfolio and strategy for clients in both the US and international markets.

Dougherty joined Axa XL in 2017 from Nationwide’s commercial surety team.

The hires come from Liberty Mutual and Align General, along with an internal transfer.

Based in São Paulo, Brazil, the executive will oversee the carrier’s aerospace underwriting strategy reporting to Nancy Bewlay, Axa’s global CUO.

Prior to her promotion, Duhart served as the head of Axa XL’s commercial bonds business.

The payouts follow the contract that Mapfre signed to pay $984mn to Colombia’s utility EPM.

The executive appointments are the latest in a series of recent staff changes at the carrier.

Based in Los Angeles, the executive will lead the insurer’s underwriting operations within the region.

Supply chain disruptions are impacting material costs and timelines, but the Biden administration’s legislation promises growth.

Based in Atlanta, he will be responsible for upholding underwriting standards and profitability, implementing strategy and best practices, and maintaining key broker and client relationships.

Axa XL Insurance continued its reshuffling with the announcement of two new regional management appointments on Wednesday.

The executive will oversee the newly created cyber incident response team led by claims manager Gwenn Cujdik.

Nick Pascall becomes the latest senior member of staff to leave the business after a string of recent departures.

The California-based executive will oversee the underwriting strategy of Axa XL’s commercial E&O business in the region.

Gittler most recently served as the practice leader and head of cyber claims in the Americas region for Axa XL.

In his new role, Andy MacFarlane will be in charge of developing Axa’s climate strategy.

Stephen Clark will also keep his responsibilities as North America hull and liabilities practice leader, a role he has held since 2017.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

The drivers that led to the consolidation in the reinsurance industry might not replicate for a while.

The executive is transferring from Singapore, where he supported the growth of the cargo and hull book.

The ransomware surge is likely to lead to changes in the product, a shake-up in market share and challenges for MGAs.

Dane Mahoney, who has been with Axa XL since 2013, will lead a team of global risk analysts and develop the global underwriting strategy.

The carrier has also promoted internally for a new leader of its US political risk, credit and bond team as it continues to staff up the division.

Sources say the pipeline operator has at least $15mn in cyber insurance cover.

Axa France says it will continue to reimburse policyholders for breach response costs.

The former financial lines CUO will start at the end of the month and be based in Switzerland.

Binding insurers include Chubb and AIG, with reinsurance from Munich Re.

Gunter expects hard market to continue, sustained by cats and social inflation.

$600mn round values Stripe at $95bn making the company one of the world’s most valuable private companies.