AXA XL appoints CEO for UK and Lloyd’s market

AXA XL appoints CEO for UK and Lloyd’s market

AXA XL appoints CEO for UK and Lloyd’s market

Sean McGovern has been appointed as CEO, UK and Lloyd’s market, at AXA XL. The insurer said he had been performing the role on an interim basis for some months and has now been confirmed on a permanent basis, subject to regulatory approval. AXA XL’s CEO Scott Gunter said: “Sean’s deep understanding of AXA XL’s business, coupled with his significant…

Using captives in multinational employee benefits programmes

Using captives in multinational employee benefits programmes

Using captives in multinational employee benefits programmes

Employee benefits are an important part of any global corporation’s risk and insurance spend. While many benefits are localised in nature, there are real advantages to managing them on a global level when possible. Matthias Helmbold, head of technical and services at MAXIS Global Benefits Network, and Matthew Latham, head of global programmes and captives at AXA XL, explain the…

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

From one thing to another: some risk and safety implications when repurposing operations to support Covid-19 relief

As Covid-19 continues to impact all of us around the world, many companies are mobilising to respond to the sudden, urgent need for vastly greater stocks of diverse medical supplies and equipment. Breweries and distilleries are turning from producing beer and spirits to making hand sanitisers and other alcohol-based disinfectants. Cosmetic companies are pivoting from face creams and perfumes to…

Cybersecurity in the time of coronavirus

Cybersecurity in the time of coronavirus

Cybersecurity in the time of coronavirus

Businesses globally are implementing business models involving far more remote workers than ever anticipated. IT and management teams are working hard to facilitate this. In the rush to keep businesses working, there is a significant risk that security will not be properly thought through.

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

Making claims globally consistent and locally responsive

The promise to pay claims is what risk managers are buying when they take out an insurance policy. Massimiliano Malinverno, head of global programmes – claims at AXA XL, explains how managing claims within a global programme can provide risk managers with a greater degree of oversight, control and authority. And, he says, a coherent, swift and proactive approach from…

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

It is said that three in every four (or as many as 80% of) corporate insurance buyers have some form of exposure to weather-related risk. Natural catastrophes cause widespread devastation, tragic loss of life and huge economic losses. Last year, insured losses from natural catastrophes totalled more than $75bn, according to estimates. Christelle Castet, climate risk specialist at AXA Climate…

Big in Japan: what insurance buyers need to know

Big in Japan: what insurance buyers need to know

Big in Japan: what insurance buyers need to know

The eyes of the world have been on Japan lately, with the Rugby World Cup taking place in the country and capturing the imagination of the local population as well as audiences around the globe. More tragically, Japan is also recovering from the worst storm to hit the country for more than half a century. Japan has one of the…

The role of captives in managing cyber risk

The role of captives in managing cyber risk

The role of captives in managing cyber risk

The threat of a cyberattack ranks at or near the top of most risk managers’ lists of concerns. Managing and mitigating a company’s exposure to a cyber event is a critical part of the overall risk programme. Cyber is an evolving, volatile risk. Steven Bauman, head of the global programmes and captive practice in North America at AXA XL, explains…

Capturing the abstract: How captives can be used to manage intangible risks

Capturing the abstract: How captives can be used to manage intangible risks

Capturing the abstract: How captives can be used to manage intangible risks

The most valuable assets a company owns often are no longer physical. Indeed, several studies indicate that the intangible assets of the world’s 500 largest companies make up roughly 85% of their value. Intangible assets can include a company’s brand, intellectual property and datasets. Risks to those assets can be hard to quantify, manage and transfer. Marine Charbonnier, global programmes…

Brazil: a market of both challenge and opportunity for risk managers with global programmes

Brazil: a market of both challenge and opportunity for risk managers with global programmes

Brazil: a market of both challenge and opportunity for risk managers with global programmes

In the early 2000s, Brazil was heralded alongside Russia, India and China as one of the ‘big four’ developing economies poised for major growth. A huge land mass, large population and a strategic location in Latin America positioned the country well for economic and social progress. With a peak GDP growth of 4.5% from 2006 to 2010, more than 29…

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