AXA XL has announced that Claire Ighodaro CBE will be retiring from her position as Chair of the Boards of AXA XL Underwriting Agencies Ltd and AXA XL Insurance Company UK Ltd .
Her retirement is effective as of December 31, 2022.
AXA XL has also confirmed that Nigel Hinshelwood has been approved by the Board of Directors to succeed Ighodaro as Chair of AXA XL UK Boards from January 1, 2023, subject to regulatory approval.
Ighodaro was appointed as Chair of the AXA XL UK Boards in January 2017.
Ighodaro, said: “It’s been a great privilege to serve as Chair of AXA XL’s UK entities for the past five years. Following AXA’s acquisition of XL Catlin in 2018, the management team has been hugely successful in introducing a new operating model and driving improvements across performance, governance & controls and market engagement, to build a profitable business that’s sustainable for the long term.
“This has been achieved while remaining unwavering in our commitment to delivering for clients, brokers and coverholders during a period of challenging trading conditions. I welcome Nigel to the Boards and wish him well when he takes over the role of Chair next year. I am certain his Chairmanship will also be a success.”
Moreover, Hinshelwood joined the AXA XL UK Boards as a non-executive director earlier this month.
Additionally, he is also the Senior Independent Director of Lloyds Bank Plc and Bank of Scotland Plc and a member of the Risk, Audit, Nomination and Remuneration Committees and chair of the IT and Cyber Advisory Forum.
Furthermore, Hinshelwood also serves as the Deputy Chair of Ikano Bank and is a fellow member of the Adobe International Advisory Board.
Overall, he has more than 30 years of experience within the technology and financial services sector and has lived and worked across the UK and Europe, North and South America, the Middle East, and Asia Pacific.
Before becoming a non-executive, he most recently served as the Head of HSBC UK and Deputy CEO of HSBC Bank Plc. He has had responsibility for major customer-facing P&Ls as well as extensive experience of large-scale transformation, operations, and technology projects with organisations including HSBC, Unisys, Cap Gemini and Ernst & Young.
Addressing his future appointment, Hinshelwood said: “I’m delighted to have been asked to succeed Claire and I look forward to working with the Board, the AXA XL UK leadership team and colleagues from AXA Group, to help build on the success of the past few years and continue to drive the UK business forward with confidence and purpose. I’d like to take this opportunity to thank Claire for her support in helping to steer the UK business through the past five years and the unimaginable challenge of COVID-19. I wish her the best in her future endeavours.”
