AXA XL promotes Simona Fumagalli to lead European financial lines business

AXA XL Insurance has appointed Simona Fumagalli as head of international financial lines, Europe, based in Milan.

In her new role, Fumagalli will be responsible for developing the business line’s underwriting strategies and product offering for Europe. In addition, she will remain in her current position as country leader, Italy, until a successor has been appointed.

Fumagalli joined XL Catlin as chief underwriting officer for professional indemnity within international financial lines in 2014. She became country manager for Italy in 2016 and was appointed as country leader for AXA XL’s insurance operations in Italy at the beginning of 2019. Prior to joining AXA XL, she held several underwriting and leadership roles at Ace, Marsh and Zurich.

Tim Powell, head of international financial lines at AXA XL, said: “I’m delighted we have the right talent internally for this strategic position. Simona is an experienced financial lines expert and an accomplished leader. I am confident she will play a key role within our team and be a strong partner to our clients and brokers across the region.”

Bruno Laval, regional head, Europe, at AXA XL, added: “Simona has done a tremendous job as Country Leader for Italy. She led our Italian operations through exciting yet demanding times, all while establishing great relationships with our clients and brokers in the country.”

He added: “Italy is an important market for AXA XL. Our clients and brokers in the country can rest assured that we will move as quickly as possible to appoint a successor to Simona as Country Leader. In the meantime, we remain focused on delivering the high level of service they have come to expect from us.”

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