'Inspirational' re/insurance leader Patrick Tannock to retire
Patrick Tannock, the chief executive officer of AXA XL Insurance in Bermuda, has announced his retirement from the company.
Tannock, who has been at AXA XL since 2010, is also stepping down as chairman of the Association of Bermuda International Companies.
“Mr Tannock has played an instrumental role in the successful evolution of Bermuda’s International Business sector, particularly the Bermuda insurance market from his days as a broker with Marsh & McLennan and underwriter at ACE Bermuda (now Chubb) to his current leadership position at AXA XL,” the company said in a statement.
“He will remain with ABIC and AXA XL until his respective replacements are appointed to ensure a smooth transition.”
Tannock was critical in supporting the creation of the Association for Corporate Racial Equality, which has praised his leadership and his performance as a role model for black re/insurance professionals.
In a LinkedIn post, ACRE said: “As Patrick Tannock announces his retirement, it is with a profound sense of gratitude that we, the ACRE Executive, reflect on his unparalleled influence within the Re/insurance industry.
“A testament to his monumental impact is evident in the conversations with senior black leaders across the sector. It's rare to encounter someone that doesn’t have a cherished "PT Story" – a personal narrative of how Patrick has been the architect behind their career achievements, often being a critical force propelling them forward.”
ACRE said black insurance professionals were keen to work for Tannock while his success inspired them to believe in their own potential.
“In our community, the aspiration to work under Patrick's leadership has been a common theme,” the organisation said. “His ascension to the pinnacle of professional success has not only inspired us but has made us believers in the boundless potential that lies within our reach because Patrick has been instrumental in paving the way. His journey, albeit laden with responsibilities, has shone a light on paths we might have otherwise deemed unattainable.
“As Patrick transitions into a new chapter, our voices unite in a resounding chorus of appreciation. We extend our deepest gratitude for his unwavering support, for the countless messages and calls, for his words of encouragement that fuelled our determination, and for his advocacy that opened doors to opportunities we might never have accessed.
“In recognition of all that you have accomplished, both in the limelight and behind the scenes, we honour you, we congratulate you, we thank you, Patrick. Your legacy is immeasurable, and your footsteps leave indelible marks on the hearts and careers of many.
The post was signed by ACRE Executive members Noel Pearman , Marlon Williams , Deshay Caines and Jasmine DeSilva.
Prior to joining AXA XL Bermuda, he was executive vice president of ACE Bermuda (now Chubb) as well as chief underwriting officer and director of the company’s specialist directors & officers subsidiary Corporate Officers & Directors Assurance Ltd. (CODA). He held executive brokerage positions with Marsh & McLennan prior to joining ACE.
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