Reinsurance News

XL announces leadership changes as it prepares for AXA integration

15th May 2018 - Author: Luke Gallin

Global insurer and reinsurer XL Group has announced a range of leadership changes within the XL Catlin Insurance Leadership Team, and the XL Group Leadership Team, in preparation for its planned integration with the AXA Group.

XL Group AXA acquisitionFirstly, reinsurance operations will continue to be led by Charles Cooper. Within Insurance, XL Group plans for current Chief Executive Insurance Underwriting and Chief Executive International Insurance, Neil Robertson and Jason Harris, to take on new roles as Chief Executives for Global Specialty and Global P&C, respectively.

In addition, Doug Howat has left the firm, and Joe Tocco will remain as Chief Executive for North America Insurance, reporting to Harris. These changes are effective July 1st, 2018.

Alongside her current responsibilities as Chief Executive for Client and Country Management, Kelly Lyles will add Communications and Marketing to her remit, following the departure of Paul Jardine, led by Elliott Bundy.

The Chief Executive P&C Underwriting Capital Management, Mark Van Zanden, will continue to lead both Ceded Re and Alternative Capital.

The re/insurer also plans to closer connect its Data and Analytics group, and this includes efforts led by Paul Shedden, Chief Executive Insurance Pricing & Analytics. As well as strategic analytics, and led by Kim Holmes, effective July 1st, 2018, Shedden’s team will include the firm’s Enterprise Data capabilities, which is led by Henna Karna, and also Accelerate, which is led by Vincent Branch.

Furthermore, Paul Brand, who currently leads Accelerate, is to leave the company at the end of June, 2018.

In a joint statement, CEO of XL Catlin Mike McGavick and President of Property & Casualty, Greg Hendrick, said: “Thank you to Paul and Doug. Their dedication was critical in creating XL Catlin and in making it a success. We wish them well for their future endeavors.”

Susan Cross – Chief Actuary, Kirstin Gould – General Counsel, Paul Jardine – Chief Experience Officer, and Eileen Whelley – Chief Human Resources Officer are all expected to leave the firm at or soon after the close of the transaction.

In light of the above departures, XL has planned the following changes to be effective at the same time:

Steve Robb will continue as Chief Financial Officer (CFO), and XL expects that he will also oversee Actuarial Reserving following the departure of Cross, and to be led by Jean-Luc Allard.

After the departure of Jardine and Gould, currently XL Catlin’s Chief Compliance Officer and Head of Regulatory and Government Affairs, Sean McGovern, is expected to add responsibilities for compliance, leadership for claims and legal.

In light of Whelley’s departure, current Senior HR Business Partner, Nikki Gonzalez, is expected to lead Human Resources.

And Adi Spiele will remain as Chief Platform Officer for Insurance until the transaction closes, and is then expected to take on a new role within AXA Group.

“We also want to take this opportunity to thank Susan, Kirstin, Paul and Eileen for their many contributions. They have each played a unique role across the Company and we look forward to celebrating their careers at XL Catlin in the months ahead. And, in the meantime, each of them has critical roles to play and we thank them for their dedication,” said McGavick and Hendrick.

XL has revealed that it also asked two senior leaders of AXA to work in project mode on the outline and organization of two functions which will report directly to Hendrick, and this includes Matthieu Caillat taking responsibility for preparing the outline of a future COO function. While Noel Richardson, will be responsible for designing the outline of the future Risk Management function.

Finally, XL announced Doina Palici-Chehab, Rob Brown, and Alison Black as three senior AXA leaders who will be giving their support as the company plans for the future.

“Thank you for your patience as we work to define our organization and move through the integration planning.

“Look for the information we have shared to-date on the PEN here and keep an eye on the future. Since announcing this transaction, as we have worked with counterparts and leaders at AXA, we are only more convinced that this is the right next step for XL Catlin,” said McGavick and Hendrick.

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