CNA Hardy plucks top risk leader from AXA XL unit to set its risk course

CNA specialty unit CNA Hardy plucked a four-year veteran of AXA XL and insurance-sector M&A guru to step in as director of risks.

Raphael Borrel has been tasked with “developing the risk strategy and framework, and providing leadership to the risk function.” He will report in London to CAN Hardy’s chief actuary and risk officer
Carl Kearney.

Borrel last served as chief risk officer of XL Catlin Services within AXA AL where he had stepped in to help grease the acquisition of XL Catlin by the AXA reinsurance unit.

Those several years directly in risk followed 17 years working alongside the insurance industry as an expert consultant to just such M&A deals. Borrel had served tenures at E&Y, Deloitte, Accenture, Aon, Bearingpoint, Advantage and Insurance Strategy Perspectives, chiefly focused on M&A support.

Carl Kearney commented: “Effective management of risk and volatility is central to CNA Hardy’s growth and strategic ambitions. We are delighted to have someone of Raphael’s seniority and breadth of experience join our organisation to help us drive our risk management proposition and future success.”

CNA Hardy bills itself as a leading specialist commercial P&C insurer within both the Lloyd’s and company markets.

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.