AXA XL Re gets Kiernan from Allianz ART as Head of US Property, Bermuda Reinsurance

AXA XL Re, the global reinsurance arm of the AXA insurance group, has announced the hiring of Peter Kiernan from Allianz Risk Transfer (ART) who joins the company as its new Head of US Property, Bermuda Reinsurance.

Kiernan takes over from Simon Penney, who is relocating to London to take up a new Global role at AXA XL as Head of Underwriting Analytics.

Kiernan takes on the new position at AXA XL at July 1st and will be responsible for its US property strategy and execution of business underwritten through AXA XL’s Reinsurance Bermuda operation.

He has more than 30 years of industry experience and a track record of underwriting and business development in the US Property space.

Kiernan started his career at PXRE Reinsurance Limited, Bermuda in 2002, then joined Axis Specialty Limited in 2006 managing a team of underwriters, cat modelers and underwriting assistants in support of a portfolio of worldwide exposed property treaty reinsurance including catastrophe, per risk, and pro rata contracts.

In 2012, he became President & CUO, Axis Re Bermuda, heading up its North American Property Unit. Kiernan then joined Allianz Risk Transfer, Bermuda in March 2020 as its Head of North American Reinsurance.

Jonathan Gale, Chief Underwriting Officer, Reinsurance and Acting CEO Bermuda Reinsurance, commented on Kiernan’s hiring, “Peter has extensive Reinsurance experience in managing portfolios, underwriting, and client relationships. His appointment will continue our legacy of service and solutions and we are very pleased to have him join the Bermuda reinsurance team. I would like to thank Simon for his dedication and excellence over the last 15 years and we look forward to working with him in his new role.”

On Penney’s new role as Head of Underwriting Analytics, Gale said, “Simon has over 17 years actuarial and underwriting experience, with an in-depth understanding of AXA XL Reinsurance. He brings this experience to my team, ensuring our pricing, planning, allocation of capacity, use of data and analytics and interaction with Ceded is as good as it can be.”

As Head of Underwriting Analytics, London, Penney will be responsible for pricing standards, in-house views of risk, and portfolio management across all areas of the Reinsurance segment, reporting directly to Gale.