Axa XL
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It is understood that Hutton has resigned from his previous role as global product head of product recall at Axa XL after six years with the carrier.
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Sources voiced some disappointment in the rate reduction but acknowledged the improved loss record of the contract.
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Adias Gerbaud will be responsible for developing underwriting strategies, optimising product offerings and driving profitability for Axa XL in Europe, Asia and Australia.
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At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.
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Based in New York, the executive will report to Axa XL CUO Libby Benet.
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Demand for specialty commercial insurance in Australia has been increasing, driven in part by the growth of the digital economy alongside traditional industries.
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Hayzelden has been charged with leading the firm's upstream energy team, covering both offshore oil and gas and offshore renewable wind risks.
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It was reported last month that Axa was believed to be preparing for a sale of Axa XL Re.
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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.
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It didn’t take long after the Validus-RenRe deal for the next possible reinsurance consolidation target to emerge.
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The carrier will increase its involvement in renewables, and cut the carbon intensity of its motor and P&C book.
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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.
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