Axa XL is combining its Bermuda and London reinsurance platforms. There will be no job losses or office closures as a result of the reorganisation.
Among a number of executive changes announced, Rob Littlemore is to take leadership of a newly-created Global Markets business, which will comprise of the company’s Bermuda and London reinsurance operations.
He has more than 28 years of experience underwriting US casualty reinsurance classes, including having served as legacy Catlin’s head of reinsurance in London and becoming XL Catlin’s underwriting director of London reinsurance in 2015.
Jonathan Gale, Axa XL’s chief executive of Bermuda Reinsurance, will become chief underwriting officer, taking over from Chris Dougherty who in turn becomes chief executive, underwriting capital management.
Mr Gale joined legacy Catlin in 2002 and held progressively senior underwriting roles before becoming chief executive, Bermuda Reinsurance.
While Mr Dougherty, who will be responsible for all Axa XL’s outwards reinsurance placements and will work with head of alternative capital Daniel Brookman, has worked in the industry for 25 years.
In addition, Paul Simons, head of property–global, will serve as head of Bermuda reinsurance and will report to Mr Littlemore.
Elsewhere, David Watson, chief executive of Axa XL’s international reinsurance business and CEO of XL Re Europe SE, will retire at the end of the year.
Following Mr Watson’s retirement, John Welch, chief executive, North America reinsurance, will assume leadership of Axa XL Reinsurance’s international markets business, based in Dublin.
Axa XL Reinsurance chief operating officer Dawn Dinkins will lead the newly centralised claims and operational functions.
Charles Cooper, chief executive, reinsurance, at Axa XL, said: “To help our brokers and clients even more quickly and easily access our expertise and products, we’re simplifying our organisational structure. Our North American and international businesses will continue to focus on the customers and brokers in their local markets.
“However, we’re combining our Bermuda and London platforms to create a global markets business platform that will focus on the global catastrophe, casualty and specialty business that are placed in these markets.
“We’re also centralising claims and operational functions into one global unit to embed consistency in approach and leverage global resources. We believe that these changes will be mutually beneficial to our trading partners and to our organisation.”
The changes announced will be effective as of January 2, subject to regulatory approval.