Key proposed changes to the operating model include the creation of a single global insurance underwriting function and the establishment of three geographical business units across the Americas, Eurasia, and the UK and Lloyd’s market.
The underwriting function will be led by a global chief underwriting officer (CUO), who will help design the structure of the proposed new model.
The CUO would also be responsible for underwriting governance, pricing, P and L and the management of the global heads of business lines in order to define and drive product strategy.
The three geographical business units will be led by CEOs, who would be responsible for the balance sheets of their geographies and managing talent.
Scott Gunter, AXA XL CEO, today announced the new positions within the leadership team. This includes Nancy Bewlay as chief underwriting officer, Rainer Schoellhammer as chief finance officer, Matthieu Caillat as chief operating officer and Sean McGovern as interim CEO, UK and Lloyd’s market.
Gunter said: “AXA XL is the result of acquisitions and mergers and with our increased scale, now is the time to optimize our structure by striking the right balance between local and global decision making so we remain agile and flexible.
“I have spent my first 60 days as CEO considering our priorities and our structure and assembling the right team to drive AXA XL forward. We want to continue to serve our clients and brokers to the very best of our ability while being a simpler organisation to navigate.”
He added: “The regional structure would mean decisions can be made faster in the country, while the global functions would mean our clients and brokers continue to benefit from our global expertise and experience.
“This leadership team is an international, highly experienced team of individuals. This is a positive step forward for AXA XL and I strongly believe that this new leadership team will ensure we are the insurance partner of choice across business lines and around the world.”