AXA XL, a division of French insurer AXA, has announced a reorganisation of its insurance underwriting operations in the Americas.
The company has structured its operations around three main business segments: large commercial, mid-market and professional, aiming to better align with the diverse needs of its clientele.
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AXA XL’s large commercial segment, now under the leadership of Donna Nadeau as head of large commercial, consolidates casualty, property, cyber, construction and energy, and specialty product lines including aviation and marine.
This segment also encompasses wholesale solutions, which includes excess and surplus and programmes, to cater to the multiline insurance requirements of AXA XL’s largest clients in the US, Bermuda and Canada.
Nadeau, with more than 30 years of industry experience, steps into this role following her tenure as AXA XL Americas chief underwriting officer.
The mid-market segment, overseen by Matthew Waters, targets businesses with less than $1bn (€920.25m) in revenue.
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By GlobalDataThis segment has expanded to include environmental, inland marine, and excess and lead umbrella insurance, as well as mid-size construction capabilities.
Meanwhile, the professional business segment remains focused on meeting specialised insurance needs related to director and officer, mergers and acquisitions, crime, and kidnap, ransom and extortion.
It is managed by the existing operating committee – Tony Giacco, John Burrows, Sean Hearn and Jim Koval.
AXA XL Americas CEO Lucy Pilko said: “After taking a close look at our structure, we are making changes to our regional model to optimise how we work and how our brokers and clients work with us. We are organising ourselves with the client in mind, giving our brokers and clients an easy access point to all product lines. We look forward to sharing more as our new structure continues to take shape.”
Last month, AXA XL introduced a new cyber insurance endorsement for public companies to comply with the US Securities and Exchange Commission’s new cyber incident reporting requirements.
The endorsement is designed to cover the costs of investigating a breach, including legal fees for compliance and disclosure.
