XL Catlin boosts M&A capacity by 20%
XL has announced that its executive management team will see some important changes as the date for its integration with AXA Group approaches.
XL’s chief actuary Susan Cross, general counsel Kirstin Gould, chief experience officer Paul Jardine, and chief human resources officer Eileen Whelley, are all expected to leave the company at or shortly after the close of the transaction, as it transitions from a standalone public company to a new entity of AXA Group.
The company said that its reinsurance segment will continue to be led by Charles Cooper, but that in insurance, Neil Robertson and Jason Harris, currently chief executive insurance underwriting and chief executive international insurance, will take on new roles as chief executives for global specialty and global P&C respectively. Doug Howat has decided to leave the company while Joe Tocco will remain as Chief Executive for North America Insurance, reporting to Jason. These changes will be effective July 1.
Steve Robb will continue as CFO and will oversee investments, led by Andre Keller. XL expects that Robb will also oversee actuarial reserving at the departure of Cross, to be led by Jean-Luc Allard, currently head of reserving & group financial reporting.
Sean McGovern, currently XL Catlin’s chief compliance officer and head of regulatory and government affairs, is expected to add to his current responsibility for compliance, leadership for claims and legal after the departure of Gould and Jardine. Brent Hoffman, will continue to lead claims.
Nikki Gonzalez, currently senior HR business partner is expected to lead human resources. Myron Hendry will continue in his role as chief platform officer until close and will continue to lead the integration from the XL Catlin side for a period of time following the closing.
Adi Spieler will continue in his current role as chief platform officer for insurance until close and is expected to take a new role within AXA Group. Kelly Lyles will continue in her current role as chief executive for client and country management and will add communications and marketing to her remit, after the departure of Jardine, led by Elliott Bundy.
Underwriting capital management, including Ceded Re and Alternative Capital, will continue to be led by Mark Van Zanden, currently chief executive P&C underwriting capital management.
All workstreams related to the study of the creation of the new entity, combining AXA CS, AXA Matrix, AXA Art and XL Catlin strengths and talents, as well as those related to the integration of this new entity within AXA Group’s broader standards and interaction with Head Office functions are now launched and up to speed. These plans will be implemented upon completion of the legal, regulatory, shareholder approval and other steps needed to complete the AXA-XL deal and subject to the consultation of employee representatives wherever needed.
XL, AXA, executive management, changes, departures, Jardine, Cross, Gould, Whelley