AXIS Insurance, the insurance business segment of AXIS Capital, has announced that its Chief Claims Officer David Hayward will be retiring in March 2020 after 17 years at the company.
After the six month transition period he will be succeeded by current head of North American Claims Michael Baumel, who has been with the firm for over four years.
Baumel has held multiple leadership roles in claims and underwriting throughout his career, both in the United States and in Europe.
He began his insurance career at General Electric where he served as a Global Claims Special Services Leader.
“This is a bittersweet moment for me. I have no doubt that Mike will be a tremendous Chief Claims Officer. Therefore, my decision to retire is made that much easier because I know that I’ll be leaving our Claims team in such capable hands,” said Hayward.
“We have a tremendous Claims team, and I take great pride in the work that we’ve done to build a leading Claims function. I look forward to seeing the practice continue to flourish under Mike’s leadership.”
Commenting on Hayward’s departure, AXIS Insurance’s Chief Executive Officer Peter Wilson said, “Dave’s contributions to AXIS cannot be understated. He has played a fundamental role in shaping our claims management strategy and he conceptualized and implemented many of the approaches that have helped us establish a Claims function that is widely recognized as one of the best in the specialty insurance industry.
“We have a great successor in Mike. During his more than four years with AXIS, Mike has established himself as a respected leader, a trusted partner to our clients and an individual who embodies our commitment to delivering exceptional service.”