AXA XL, the specialty commercial insurance and reinsurance division of France headquartered global player AXA, has announced that its Chief Executive Officer Greg Hendrick is stepping down and departing the firm.
Replacing Hendrick with immediate effect is Scott Gunter, who joins AXA XL from Chubb where he most recently held the role of Senior Vice President, Chubb Group and President of the firm’s North America Commercial Insurance division.
Hendrick is leaving to “pursue other opportunities” the company explained, with the change effective immediately.
Gunter will join AXA’s Management Committee and report directly to Thomas Buberl, CEO of AXA in his new position with the company.
Buberl commented on the news, “I would like to warmly thank Greg for his leadership in managing the integration of XL over the past two years and building the new AXA XL division, which is today a solid and well positioned franchise. Greg’s contribution has been instrumental in creating business synergies and ensuring a smooth transition for our clients and brokers. With the effective consolidation of AXA Art, AXA Corporate Solutions and XL’s activities under one roof, he has laid the foundation for AXA XL’s future success as part of the #1 global commercial lines insurance platform. I wish him all the best in his future endeavors.
“I am very happy that Scott is joining AXA. Scott brings over 30 years of experience, a strong track record in commercial insurance, underwriting and profound knowledge of the North American market. Prior to his last role as President of Chubb’s North America Commercial Insurance division, Scott held several global positions within Chubb, including Chief Underwriting Officer. I am convinced that his deep experience and leadership skills coupled with the highly professional and engaged teams of AXA XL, will be a winning combination to drive the next phase of AXA XL’s development.”
“I am proud of the work done together with our colleagues in creating the new AXA XL division. As I move on, I am convinced that the expertise, ability to innovate and customer focus which are at the heart of our DNA will be key assets in ensuring the continued success of this great platform,” added Hendrick.
“I am very happy to join the AXA Group and look forward to working with AXA XL’s teams to accelerate its development. Together, we will leverage our unique position in the market and our recognized expertise to make AXA XL the best global commercial lines insurance partner for its clients,” Gunter said.
Hendrick had worked for Bermuda based XL Insurance since 1995 in positions with leadership responsibility for its reinsurance operations.
He joined AXA after the insurer acquired XL Catlin, where he had most recently held the role of Head of XL Catlin’s global reinsurance operations and President, Property & Casualty.