Global Chief Underwriting Officer, Specialty Location: Open
AXA XL’s culture of profitable growth and disciplined underwriting is the strategic focus of the GCUO, Specialty. As a member of the Global CUO Leadership Team, reporting directly to the AXA XL Global Chief Underwriting Officer, the Specialty GCUO will act as the Global Specialty Leader with the following main remits:
- Setting strategic direction, the underwriting standards and governance to ensure the delivery of the long run expected product profitability for the Global Specialty portfolio.
- Ensuring and providing the necessary technical expertise in the industry Specialty segments.
- Leading representation to the market and to senior level client and brokers to support the business development in our three Regions (UK & Lloyd’s, Americas and APAC & Europe).
This role will have four direct reports (PRCB, Aerospace, Marine and Specialty Niche) and work in close collaboration with our GCUO Product Leads and with the 3 Regional Specialty Leaders (APAC & Europe, UK & Lloyd´s and Americas) who are part of the Regional CUO´s Teams. Additionally, the GCUO Specialty will work closely with functional leaders such as Claims, Actuarial Finance & Reserving, Operations & Technology, Data & Pricing and Analytics. AXA XL underwrites various Specialty coverages solutions to organizations and individuals of all sizes on a global basis. Below the industry Specialty segments the Company actively offer and this role will be in charge:
ü PRCB (Political Risk, Credit and Bond): this class includes Political Risk insurance, Credit insurance covering the non-payment of debt obligations and providing commercial bonding requirements.
ü SRS (Structured Risk Solutions): this class underwrites various Alternative Risk Transfer solutions, including Structured (Re)insurance for captive clients and Performance Insurance for project companies.
ü FAS (Fine Art & Specie): this class includes coverages for Museum Institutions, Commercial Dealers, Private Collectors as well as Jewelers Block, Precious Metals, Cash Management and Financial Institutions.
ü CMSR (Crisis Management & Special Risks): this class provides a range of security-related insurance products, all under-pinned by immediate access to expert crisis response capabilities which includes Kidnap & Ransom, Crisis Response and Emergency Evacuation.
ü Equine: coverages are split between Bloodstock and Equestrian business offering high valued horses risk mortality cover for death as a result of illness, injury or disease including humane destruction by a veterinary surgeon to terminate incurable suffering and optional extensions.
ü Livestock: this class provides coverages for all descriptions of insureds from individual farmers to multinational food production corporations and also including Aquariums, Safari parks and Zoos with high individual valued species.
ü Aquaculture: coverages for Aquaculture Insurance Biomass, Aquaculture workboats, Floating Equipment for fish farming, Cargo Insurance for live fish, eggs and juveniles.
ü Life, Accident &Health: coverages for Corporate or affinity personal accident, aircrew loss of license, aviation and marine personal accident, war risks, travel benefits and credit card, medical expenses XOL, expatriate medical benefits.
ü Marine: coverages for cargo in transit and in storage, liability insurance for freight forwarders, logistics companies and land carriers; Hull covering physical damage to a vessel, Marine Construction and Marine War and liability & ports covering the liability arising out of the ownership, operation or chartering of watercraft.
ü Aerospace: coverages for damages to aircraft Hull and Legal Liability arising out of covered airline operations, damages and injuries arising out of the covered liability of aircraft (including engines) manufacturers and overhaul maintenance, Airports and Air Traffic Control operations, General Aviation covering damages to aircraft Hull and legal Liability arising out of covered private and commercial aircraft operations and Space covering physical damage to Satellite during pre-launch, launch, in-orbit and liability coverage for spacecraft and launch vehicles.
This highly specialized underwriting unit has been identified by AXA XL as a growth area given the Specialty teams add insight and expertise to solid analytics to provide our customers with top tier underwriting solutions, valuable risk engineering, and global claims capabilities. This role reports to the Global Chief Underwriting Officer. DISCOVER your opportunity
- Accountability for the Global Specialty line of Business P&L; managing the Global portfolio to achieve set Global and Regional financial targets and ensure profitable growth
- Inspire a culture of underwriting excellence and relentless product performance management across the Global Specialty teams
- Promote the professional growth of a diverse and engaged underwriting community, whilst planning effectively to meet the succession needs of the organisation
- Identify training needs and, in conjunction with the AXA XL Underwriting Academy, develop training programs designed to advance the technical skills of the Specialty Underwriting community
- Drive and monitor underwriting policies, rules, guidelines, and procedures establishing the referral flow for technical oversight
- Cascade (and withdraw) of Underwriting Authority levels to achieve underwriting quality, best practices, profitability, and regulatory compliance goals
- Provide guidance and direction to the Global Specialty line of business to achieve Corporate goals and objectives
- Create, implement, and monitor Underwriting best practices/quality audits as necessary
- Represent line(s)/business unit(s) during, regulatory and FIC audits as needed and coordinate with line/Business Unit on internal and external requests for information
- Operational planning - Work with the Global Product Heads and Regional CUO’s to ensure we have robust operational plans to achieve strategic objectives
- Work with Finance, Actuarial, Heads of LOB to influence the development of Regional financial plans in support of the Global Specialty Strategy
- Build and maintain effective links with the Global CUO function and leadership team to ensure alignment with product growth and strategic direction
- Align with AXA GI and other legal entities to collaborate and innovate where possible, proactively identifying new product opportunities to support product growth strategies
- Ensure Regional Specialty Underwriting teams are collaborating with the Global Chief Underwriting office and Internal Audit as appropriate
Responsiblefor leading Global Specialty with direction and influence from the Global Chief Underwriting Officer and the Regional CEOs to achieve both Global and Regional profitability SHARE your talent
We’re looking for someone who has these abilities and skills:
- Solid technical Commercial lines Underwriting expertise and excellent understanding of Global Specialty & P&C Insurance
- Ability to develop & drive teams; developing technical & leadership skills across the underwriting organisation
- Build relationship and manage by influence in an international, multi-cultural, matrix environment
- Sound understanding of financial planning, analysis, and reporting approaches
- Ability to respond to a changing environment with flexibility and innovation
- Enable feedback loop with Claims and Reserving on strategy and appetite
- Close collaboration with Product specific GCUO, Regional CUOs and Regional Product Leaders as well as pricing, reserving actuaries, Risk Consulting, and other Teams within the GCUO Organization and across AXA XL (e.g., Risk) and AXA Group (e.g., GIO/GRM)
- Engage with clients and brokers where product expertise can add value to the interaction
- Strategic & transformation mindset : able to articulate an actionable strategy, defining a transformation roadmap to drive profitable growth, challenging the status wherever appropriate
- Gravitas, self-confidence and comfort level with an outward facing role into the market
- Effective communication skills, presentation, written and verbal communication skills
Outstanding display of the AXA values - One AXA, Customer First, Courage, Integrity - is critical for this leadership role. FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it. How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business property, casualty, professional, financial lines and specialty. With an innovative and flexible approach to risk solutions, we partner with those who move the world forward. Learn more at axaxl.com Inclusion & Diversity
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
- Robust support for Flexible Working Arrangements
- Enhanced family friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer. Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations. Our Pillars:
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.
For more information, please see axaxl.com/sustainability The U.S. base salary range for this position is $375,000 to $430,000 USD. AXA XL is a global Company. The salary range noted above is applicable only for US applicants.
Actual pay will be determined based upon the individual’s skills, experience and location. We strive for market alignment and internal equity with our colleagues’ pay. At AXA XL, we know how important physical, mental, and financial health are to our employees, which is why we are proud to offer benefits such as a competitive retirement savings plan, health and wellness programs, and many other benefits. We also believe in fostering our colleagues' development and offer a wide range of learning opportunities for colleagues to hone their professional skills and to position themselves for the next step of their careers.