AXA XL, the commercial insurance and reinsurance operation of the global AXA Group, has announced the promotion of Libby Benet to the role of Global Chief Underwriting Officer (GCUO).
Benet joined AXA XL in 2020 as Chief Underwriting Officer for Cyber and now succeeds Nancy Bewlay, who recently took on leadership of AXA XL’s global reinsurance operation.
Benet’s career in insurance and reinsurance includes time spent as an Underwriter and Product Developer at Zurich, a Specialty Lines Underwriting Manager at Gen Re and also underwriting specialty lines at Beazley.
Prior to joining AXA XL, Benet ran her own consultancy, helping insurers to develop and implement new products, and consulting on the set up of underwriting and claims systems and feedback on reinsurance purchasing.
In her previous role, as Chief Underwriting Officer for Cyber, Benet monitored the AXA XL cyber risk portfolio and exposure from an aggregated global product view.
When AXA XL adopted its new operating model, Benet also assumed Global Chief Underwriting Officer responsibilities for all financial lines, including cyber.
AXA XL CEO Scott Gunter commented on the move, “Given the GCUO’s responsibility for underwriting governance, pricing, risk aggregation and global product strategy, this is a big role to fill, and Libby is well prepared for it.
“Libby has done an impressive job working with our regional underwriting teams to support their disciplined underwriting, improve pricing, and manage our aggregate exposure in support of our profitable growth. Libby’s proven leadership, market insight and portfolio management experience will continue to prove valuable in her new expanded leadership role.”