AXA XL shakes up UK & Lloyd’s market leadership in optimisation push

Re/insurer AXA XL has reshuffled its leadership team for its UK & Lloyd’s region as part of its strategy to create a simplified structure and bring decision-making closer to the regional markets.

Luis Prato has been made chief underwriting officer (CUO) for the UK & Lloyd's, while Martin Turner becomes chief claims officer for the UK & Lloyd's. Meanwhile, Elie Hanna has been named chief distribution officer for the UK and Lloyd's.

In his new role, Prato will define the underwriting strategy and risk appetite for the UK & Lloyd’s Market in conjunction with the global chief underwriting officer, while leading the UK & Lloyd’s business unit to deliver the underwriting profitability target for the region.

Prato began his career as a risk engineering consultant. In 1998, he became senior underwriter for energy and managing director, Latin American division at Zurich Global Energy. He held senior positions at Allied World Insurance and AEGIS London, before joining AXA XL - then Catlin - in 2008, as head of downstream energy for UK and Ireland. He was promoted to head of UK energy and regional product leader for the UK and Ireland in 2016, before being made chief underwriting officer for the UK region and legal entities in September 2019.

Turner will be responsible for the day-to-day leadership of the claims handling teams, including overseeing technical expertise and local market knowledge in the region.

Turner has been in the London insurance market for more than 30 years, having started his career in 1986 with Reinsurance Broker Alwen Hough & Johnson. He joined AXA XL - formerly Brockbank Syndicate Management - in 1988, and has held a series of senior positions, most recently serving as head of UK and global specialty claims.

Finally, Hanna will develop and lead the execution of AXA XL’s 'go to' market, trading and external marketing & communication strategies. These will be aligned to the regional portfolio underwriting and legal entity platform strategies.

Hanna spent more than a decade at AIG in underwriting, country management and senior distribution roles in London and across the Middle East. In 2016, he joined the AXA Group, where he worked as global head of mid-market and broker engagement. Most recently, he was the global head of broker management at AXA XL, responsible for managing the division’s strategic broker relationships for the insurance segment.

The appointments are part of the proposed changes to the operating model of AXA XL’s Insurance business following a strategic review.

Sean McGovern, CEO UK & Lloyd’s market, AXA XL, said: “I am pleased to announce the new Leadership Team for the UK & Lloyd’s region. This is the latest step in our journey to optimise our structure by striking the right balance between local and global, in order to ensure we serve our clients and brokers to the best of our ability. This Leadership Team is filled with highly experienced individuals who I’m confident will help to ensure we are the insurance partner of choice in this important region.”