Axa XL
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Axa XL has also added Fidelis’ Jamie Cann to its aviation team.
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The underwriter will head up casualty reinsurance for the US and elsewhere.
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Michael Yeats will now lead the automatic reinsurance facilities division in the US.
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He was previously head of underwriting management and deputy CUO for Axa XL’s marine segment.
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Kelly was recently appointed to head up the product recall book at Axa XL.
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The LMG chair also discussed the need for tailored regulations.
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Paul Thomas was also appointed head of sports, media and entertainment.
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The P&C segment reported a 71% increase in underlying earnings.
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The company provides reinsurance to insurers in LatAm and the Caribbean.
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Duties will include setting strategic direction in marine, aerospace, and specialty niche lines.
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The appointment follows the resignations of Shaun Russ and Ian Davidson.
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The resignations will see Russ and Davidson reunited with fellow Axa XL alumnus Mark Hutton, who joined Tokio Marine HCC as head of crisis management last year.
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Ashwell is widely regarded as one of the architects of the standalone terrorism market that emerged after 9/11.
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The carrier is targeting the line of business as part of a wider strategic push in international insurance.
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Mike Gosselin steps into the role vacated by Luis Prato, who left the carrier earlier this year to join LSM.
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Canopius will write a 2.5% line on the multi-class facility, while Axa XL will write 1%.
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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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A panel of sustainability leaders from Conduit Re, Axa XL, Convex and Vantage Risk discussed the need for a consistent methodology to measure underwriting emissions at the Bermuda Climate Summit.
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The decaying oil tanker FSO Safer is holding over a million barrels of oil and is at risk of explosion.
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The carrier has announced several changes to its management committee before revealing its new strategic plan early next year.
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The carrier has been recruiting for the position following Steven Farr’s move to Tokio Marine HCC.
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Sean McGovern said the appointment was part of an “important strategic initiative” for the company.
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The carrier reported group revenue of EUR31.8n, 2.1% higher than in the prior-year quarter.
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The underwriter has worked at various Axa entities for 13 years, holding a string of increasingly senior positions.
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Sean McGovern, chair of the London Market Group, outlined why it is critical for the trade body’s outreach programme to build the market’s talent pipeline and attract data science expertise.
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The underwriter has over a decade of cyber experience and has worked at Axa XL since 2020.
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The appointment comes after a slew of cyber reinsurance brokers left Aon to join Howden.
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Hannah Hosking will join from Chubb to lead the strategy across the business, focusing on growth at the higher end of the market segment.
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Adam Lait is joining as senior underwriter, marine liability & ports, UK & Lloyd’s after a near-10-year tenure at Marsh.
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The syndicate booked a comprehensive loss of £103.7mn for the year as its underwriting profit fell by 90%.
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The MGA has $15mn of capacity to underwrite UK public corporations and plans to expand into the US market.
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The biggest increases came from North American hurricane and earthquake coverage, where retentions rose from $350mn to $600mn.
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The carrier also reported a drop in reinsurance revenue, with Axa XL Re reporting revenues of EUR3.2bn, a 27% fall from the year prior.
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Stephanie Coxall joined the business in 2012 and progressed to hold several key roles, most recently leading Axa XL’s global learning academy.
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According to sources, Daniel O’Connell will join Fidelis MGU as head of bespoke.
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Felix Winzap will join the Swiss leadership team following the resignation of Peter Schmidt.
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Tristan Abend has been with the Axa XL Reinsurance team for 10 years.
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Francesca Giurato will take on a leadership role for both Dual Europe and Dual Italia, with the aim of building a European hub for the fine art business.
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Prior to her promotion, Laura Casby was a senior underwriter in the UK and Lloyd’s upstream energy team.
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Prior to her promotion, Kareen Richardson was a vice president, senior underwriter, in Axa XL’s excess casualty team.
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The cyber specialist joins a company in growth mode, with acquisitions and new offices in London and Europe.
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The executive joins from Aon where she spent 19 years in cyber roles including chief operating officer, chief commercial officer and chief broking officer.
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A harder retro market will have a knock-on effect for London reinsurers, a panel of executives said at today’s London Market Conference hosted by Insurance Insider.
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Some expressed disappointment at the rate change, but it came off the back of a major correction last year.
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The French carrier’s P&C unit has been reducing exposure to nat cat during 2022.
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The conflict has prompted a potential mismatch between insurer and client transition speeds.