Axa XL

The carrier said the move is part of its plan to simply group reinsurance operations.

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.

As part of his promotion, Andrew Innes will also join the division’s global aerospace leadership team.

Nine (re)insurance firms in London took part in the programme for career-break women, organised by diversity and inclusion firm Inclusivity and supported by the Insurance Families Network.

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 hull market has seen multiple years of positive rating momentum following a period of prolonged soft conditions.

The executive said the carrier would continue with its underwriting approach and benefit from pricing tailwinds.

Axa almost doubled its profits at a group level, and the business expects claims of EUR400mn from recent European floods.

The carrier’s global head of hull Mike MacColl resigned from the business earlier this year to join Atrium.

Any transaction would be predicated on a major reorganisation of the acquisition target, slowing deal progress.

The executive spoke exclusively to Insurance Insider about his role leading the London Market Group’s five-point plan to lobby for UK regulatory reforms.