AXA XL has named its new leadership team and proposed changes to the operating model of its insurance business following a strategic review.
The key proposed changes to its operating model include the creation of a single global insurance underwriting function and the establishment of three geographical business units across the Americas, Eurasia, and the UK and Lloyd’s market.
The underwriting function will be led by a global chief underwriting officer and will be working to design the structure of the proposed new model. The chief underwriting officer will be responsible for underwriting governance, pricing, profit and loss and the management of the global heads of business lines in order to define and drive product strategy.
The three geographical business units will be led by CEOs, who would be responsible for the balance sheets of their geographies and managing talent.
The new leadership team includes Nancy Bewlay, chief underwriting officer; Joseph Tocco, CEO of Americas; Scott Gunter, interim CEO of Eurasia; Sean McGovern, interim CEO, UK and Lloyd’s market; Charles Cooper, CEO of reinsurance; Brent Hoffman, chief claims officer; Karen le Duc, chief human resources officer; Matthieu Caillat, chief operating officer; Noel Richardson, chief risk officer; Rainer Schoellhammer, chief finance officer and; Sean McGovern, general counsel.
Commenting on the new team and proposed changes, Gunter said: “AXA XL is the result of acquisitions and mergers and with our increased scale, now is the time to optimise our structure by striking the right balance between local and global decision making so we remain agile and flexible.”
He continued: “I have spent my first 60 days as CEO considering our priorities and our structure and assembling the right team to drive AXA XL forward. We want to continue to serve our clients and brokers to the very best of our ability while being a simpler organisation to navigate.”
“The regional structure would mean decisions can be made faster in the country, while the global functions would mean our clients and brokers continue to benefit from our global expertise and experience,” Gunter added.
“This leadership team is an international, highly experienced team of individuals: around half the team have a background at legacy XL Catlin, while the other half bring diverse and valuable experience from across the AXA Group.”
Gunter added: “This is a positive step forward for AXA XL and I strongly believe that this new leadership team will ensure we are the insurance partner of choice across business lines and around the world.”
