Axa XL

The carrier is targeting the line of business as part of a wider strategic push in international insurance.

Mike Gosselin steps into the role vacated by Luis Prato, who left the carrier earlier this year to join LSM.

Canopius will write a 2.5% line on the multi-class facility, while Axa XL will write 1%.

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.

Sources voiced some disappointment in the rate reduction but acknowledged the improved loss record of the contract.

Adias Gerbaud will be responsible for developing underwriting strategies, optimising product offerings and driving profitability for Axa XL in Europe, Asia and Australia.

At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.

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

Demand for specialty commercial insurance in Australia has been increasing, driven in part by the growth of the digital economy alongside traditional industries.

Hayzelden has been charged with leading the firm's upstream energy team, covering both offshore oil and gas and offshore renewable wind risks.

It was reported last month that Axa was believed to be preparing for a sale of Axa XL Re.

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.