XL outlines senior exec departures post-AXA deal

XL Group has announced a raft of personnel changes that will take place once its acquisition by AXA Group has completed, with both Paul Jardine and Kirstin Gould set to depart. The $15.3bn AXA-XL deal moves ever closer to its completion date during the second half of this year, and XL has revealed several senior executives will leave as part of a management shakeup following the closing of the deal. Susan Cross, XL’s chief actuary; general counsel Kirstin Gould; Paul Jardine, XL’s chief experience officer; and chief human resources officer Eileen Whelley will all either leave the company once the deal closes or shortly after the transaction completes. “[We] want to take this opportunity to thank Susan, Kirstin, Paul and Eileen for their many contributions,” Mike McGavick and Greg Hendrick said in a joint statement. “They have each played a unique role across the company and we look forward to celebrating their careers at XL Catlin in the months ahead. And, in the meantime, each of them has critical roles to play and we thank them for their dedication,” they added. Charles Cooper will continue to oversee the firm’s reinsurance business, but on the insurance side, Neil Robertson and Jason Harris, currently chief executive (CEO) for insurance underwriting and CEO for international insurance respectively, are set to each take on new roles as CEOs for global specialty and global property and casualty (P&C). Doug Howat, CEO of global lines, is leaving the business, while Joe Tocco, CEO for North America Insurance, will remain in his position reporting into Harris. All of these changes, XL said, will come into effect on July 1. Kelly Lyles will remain CEO for client and country management, adding communications and marketing responsibilities once Jardine has left, led by Elliott Bundy. Mark Van Zanden, CEO P&C underwriting capital management, will continue to be responsible for underwriting capital management, a function which includes ceded re and alternative capital As part of the wider company changes, XL is looking to develop a more connected data and analytics group. This unit will include some of the company’s innovation efforts and will be overseen by Paul Shedden, currently CEO of insurance pricing and analytics. From July 1, Shedden’s team will include the Kim Holmes-led strategic analytics outfit, and the enterprise data operation which is overseen by Henna Karna. Vincent Branch’s Accelerate unit will also fall under Shedden’s oversight. “For some time we’ve thought of bringing the analytics, data, and innovation work closer together and this is a good opportunity to take that step. Additionally, Paul Brand, who currently is leading Accelerate, is planning to leave the organisation at the end of June,” explained McGavick and Hendrick in the statement. Other management changes include Steve Robb, XL’s chief financial officer, overseeing the investments function which will continue to be led by Andre Keller. The business expects Robb will also be responsible the firm’s actuarial reserving once Cross leaves. The wider reserving function will remain under the oversight of Jean-Luc Allard, currently head of reserving and group financial reporting. XL Catlin’s chief compliance officer and head of regulatory and government affairs, Sean McGovern, will take on further... CLICK HEADLINE TO READ MORE

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