AXA XL has named Caroline Tran as its first product leader for political risk, credit and bond in Europe.
In the new role, Ms Tran will develop underwriting strategy in Europe and will be responsible for AXA XL’s political risk, credit and bond portfolio in France.
Ms Tran joins AXA XL from Atradius, where she was deputy head of special products.
Dan Riordan, AXA XL’s global chief underwriting officer for political risk, credit and bond, said buyers are facing a complex network of political and credit risks.
“[Last year] has showed us that the world is a more volatile and unpredictable place than ever before. Covid-19 has impacted infrastructure projects and supply chains. In politics, major changes in trade agreements and unrest add to an already heightened risk environment for companies trading and investing across borders,” Mr Riordan said.
Yannick Daucourt, AXA XL’’s CUO for specialty, APAC and Europe, said European companies increasingly need risk solutions to manage their exposure to foreign trade.
“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,” he said.