AXA XL continues simplification of reinsurance business structure

AXA XL, the specialty commercial insurance and reinsurance division of France headquartered global player AXA, has continued to simplify the structure of its reinsurance business around key markets and its core strategy.

This simplification began in September, when AXA XL began moves that included more closely aligning and integrating alternative reinsurance capital operations with its outwards reinsurance operations, use of hedging capacity and partnership capital, with a new “Payer to Partner” focus.

Now, the company has made some more senior leadership changes, as it continues the restructuring of the reinsurance underwriting business, much of which is undertaken in Bermuda.

From January 1st 2020, John Welch, Chief Executive of AXA XL Reinsurance’s North America region, will also take on the role of Chief Executive, Domestic Markets with overall responsibility for that business, on top of his role leading AXA XL Reinsurance’s International region.

This Domestic Markets business unit will be focused on reinsurance placed locally by brokers and AXA XL Reinsurance clients.

While the Global Markets business unit will be made up of AXA XL Reinsurance’s Bermuda and London platforms, led by Rob Littlemore, currently Chief Executive, London Reinsurance, who is set to become Chief Executive, Global Markets.

Welch has over 30 years of insurance and reinsurance industry experience and has been in increasingly senior roles since joining the company in 1999 after the NAC Re merger. He has held roles including Head of Casualty and Surety Underwriting, Chief Actuary, and President & CEO of XL Reinsurance America Inc. and also served as Strategic Planning Officer for Reinsurance.

Another senior move from January 1st is the promotion of Christopher Buse, current Head of Casualty Reinsurance in North America, who will be promoted to the position of Chief Underwriting Officer of AXA XL Reinsurance North America.

Buse has over 30 years of experience in the North America market and alongside Bertrand Romagne, Chief Underwriting Officer of AXA XL Reinsurance International, will manage the day-to-day underwriting of the Domestic Markets business. Both Buse and Romagne will report to Welch in their roles.

Buse and Paul Simons, Head of Property, Global Markets who will also take on the role of Head of Bermuda Reinsurance and Marcus Gonzales, Head of International Casualty who takes on the position of Head of London Reinsurance – both reporting to Littlemore, have all been appointed to AXA XL’s Reinsurance Leadership Team (RLT).

The RLT is led by Charles Cooper, Chief Executive, Reinsurance at AXA XL and includes Welch, Littlemore and Romagne as well as other senior AXA XL Reinsurance leaders.

Cooper commented on all the moves as well as the companies progress, “As with the executive changes that we announced in September, this underscores our commitment to our client-centric approach and structure which will provide our clients and other trading partners faster and easier access to our expertise and broad product offering. We’re pleased to have John lead our Domestic Markets business, given his vast industry knowledge and experience. Having him take on this expanded role speaks to his respected leadership. We’re also fortunate to have Chris, Paul and Marcus join the RLT.

“Their diverse professional perspectives and exceptional individual and collective industry experience will be valuable as we focus on strengthening AXA XL Reinsurance’s strategic pillars of underwriting & analytics, client focus, alternative capital and operational excellence in 2020 and beyond.”