1 February 2021Operations

Tran joins AXA XL to strengthen its political and credit team in Europe

AXA XL Insurance has appointed Caroline Tran as product leader for political risk, credit and bond (PRCB) in Europe.

Tran has more than 17 years of experience in the political and credit risk insurance industry. She was previously deputy head of special products and product leader for structured single situations and political risks at Atradius, having held senior roles at the group in the UK and Europe.

She started her career at COFACE in Shanghai in 2004 and became a country risk analyst and a political risk underwriter for Unistrat COFACE in Paris in 2005.

At AXA XL Tran assumes responsibility for developing the underwriting strategy for Europe and overseeing its implementation, in partnership with AXA XL’s local PRCB underwriters and distribution teams. She is also directly responsible for AXA XL’s PRCB portfolio in France.

Dan Riordan, global chief underwriting officer for PRCB, said the experience of 2020 highlighted how volatile and unpredictable the world has become.

“COVID-19 has impacted infrastructure projects and supply chains,” he said. “In politics, major changes in trade agreements and unrest add to an already heightened risk environment for companies trading and investing across borders. To manage these risks, having the right insurance protection in place is paramount.”

Yannick Daucourt, chief underwriting officer for specialty, APAC and Europe, added: “With foreign trade accounting for over a third of the European Union’s gross domestic product, many European companies are by nature outward-oriented. As such, these require expert solutions to understand and manage the risks associated with trading overseas. And with increasing political tensions, both globally and close to home, we are seeing increased demand from these organisations.”