AXA XL taps veteran cyber underwriter to helm Bermuda insurance business

Re/insurer AXA XL has promoted a veteran cyber underwriter to be chief underwriting officer of AXA XL Insurance in Bermuda, as part of a recently announced reorganisation of insurance underwriting operations in the Americas.

Noel Pearman, who has been with AXA XL since 2011 and built its cyber book, takes charge of the Bermuda insurance operations from Patrick Tannock, who retired as chief executive officer of AXA XL Insurance Bermuda this week.

Pearman will report to Donna Nadeau, AXA XL’s insurance head of large commercial, Americas, and is responsible for leading the Bermuda insurance business, developing and executing the underwriting and distribution strategy, while collaborating with the other Americas underwriting business leaders.

“With more than 20 years of industry experience, Mr. Pearman brings to the new role a combination of direct portfolio management expertise, technical underwriting acumen, and proven leadership,” the company said.

Nadeau added: “We are thrilled that Noel has taken on this important position. His underwriting experience, respected reputation and successful track record as an industry thought leader, particularly in the cyber space, makes him the perfect person for this new role.

“Our Large commercial clients face a myriad of complex, evolving risks which require customised, innovative solutions. With Noel at the helm of our insurance business in Bermuda, there is no doubt that we will strengthen connections with our trading partners and provide solutions to help our clients build more sustainable, thriving businesses.”

Pearman was previously SVP, cyber product line leader at AXA XL, where the company said he built the premier Bermuda market cyber liability business, oversaw cyber exposure across all product lines (including property and casualty), and was a frequent international conference speaker and organiser.

Pearman co-chairs the Association for Corporate Racial Equity (ACRE) which works to advance racial equity in Bermuda’s International Business sector. He is also a Global Executive Sponsor of AXA XL’s Rise Business Resource Group, which focuses on developing employees from underrepresented racial and ethnic groups.

His previous role at AXA XL was as a vice president in professional lines. Prior to joining AXA XL, he was a professional lines senior underwriter at Allied World from 2003 to 2011. He was a Lieutenant and platoon commander in the Royal Bermuda Regiment from 2001 to 2008.

AXA XL also paid credit to Tannock's accomplishments at the company.  

“We would also like to take this opportunity to recognise and thank Patrick Tannock upon his retirement from AXA XL in Bermuda this week. Under Patrick’s leadership, our Bermuda Insurance business has solidified its position as an anchor market to which AXA XL is committed,” said Lucy Pilko, AXA XL CEO, Americas. “We are appreciative of Patrick’s significant contributions to AXA XL’s success in the Americas region and the wider international business community.”

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