Top executives depart XL in management shake-up ahead of AXA takeover

Re/insurer XL Group has revealed several organisational and leadership changes ahead of the planned integration with the AXA Group. The move has led to the departure of top executives such as chief executive of global lines Doug Howat and chief experience officer Paul Jardine.

Commenting on the move, XL Group CEO Mike McGavick and XL president P&C Greg Hendrick, said: "Thank you to Paul and Doug. Their dedication was critical in creating XL Catlin and in making it a success. We wish them well for their future endeavors.”

French insurer AXA is in the process of acquiring XL Group for $15.3 billion (€12.4 billion) in cash.

XL said in a SEC filing that the personnel changes will be implemented upon completion of the legal, regulatory, shareholder approval and other steps needed to complete the AXA-XL deal and subject to the consultation of employee representatives wherever needed.

In the insurance division, Neil Robertson, currently chief executive insurance underwriting, will take on the new role as chief executives for global specialty. Jason Harris, currently chief executive international insurance, will become chief executives for global P&C.

Kelly Lyles, chief executive for client and country management, will add communications and marketing to her remit after the departure of Paul Jardine.

XL said it intends to create a more connected data and analytics group, including some of its innovation efforts led by Paul Shedden, currently chief executive insurance pricing & analytics.

In addition to strategic analytics led by Kim Holmes, effective July 1, Shedden’s team will include the company's enterprise data efforts - led by Henna Karna, as well as in-house innovation team Accelerate - led by Vincent Branch.

Paul Brand, who is currently leading Accelerate, is planning to leave the organisation at the end of June.

As part of its transition from a standalone public company to a new entity of AXA Group, XL has also made changes to its group leadership team that will see as many as four key executives leaving the organisation at or shortly after the close of the transaction. These executives include XL’s chief actuary Susan Cross, general counsel Kirstin Gould and chief human resources officer Eileen Whelley.

Going forward, chief financial officer Steve Robb will oversee investments, led by Andre Keller. Robb is also expected to oversee actuarial reserving after the departure of Cross, to be led by current head of reserving & group financial reporting Jean-Luc Allard.

Sean McGovern, currently XL Catlin’s chief compliance officer and head of regulatory and government affairs, is expected to add to his current responsibility leadership for claims and legal after the departure of Jardine and Gould.

Nikki Gonzalez will lead human resources after the departure of Whelley.

In addition, XL has roped in two senior leaders of AXA to work in project mode on the outline and organization of two functions which will report directly to Greg Hendrick.

Matthieu Caillat, currently CEO of AXA CS France and deputy global CUO of AXA CS, will be responsible for preparing the outline of a future COO function, partnering with Hendry and Spieler, while keeping the responsibilities that he has today within AXA CS until the integration.

Noel Richardson, currently group head of life, savings and health insurance and risk management at AXA, will be responsible for designing the outline of the future risk management function, partnering with Fid Norton and supporting a smooth integration of XL within AXA’s broader risk management standards; while keeping the responsibilities he has today within AXA until the closing.

Finally, three senior AXA leaders Doina Palici-Chehab, Rob Brown and Alison Black have been tasked with additional roles to support a successful integration.

Palici-Chehab, currently executive chair of AXA CS, AXA Art and AXA Matrix, will take on the additional role of chief integration officer responsible for overseeing the integration planning process, reporting to Thomas Buberl.

Brown, CEO of AXA CS, will support XL in the integration planning as senior advisor, while continuing to report to Palici-Chehab.

Black, currently head of HR for AXA CS, reporting to Rob Brown, will take on the additional responsibility of HRD supporting the integration for AXA, reporting to Karima Silvent, AXA Group head of HR.

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