AXA XL appoints new marine, energy & aerospace chief underwriter of UK & Lloyd’s

AXA XL Insurance has appointed Peter Welton as chief underwriting officer (CUO) marine, energy & aerospace for the UK & Lloyd’s market.

Welton will be responsible for developing and executing the underwriting strategy for the UK marine, energy & aerospace books and optimising product offering and profitability. He will lead a team of underwriters in London.

Welton has held several underwriting roles within the energy sector. He began his career with Marsh Graduate Scheme in 2000, before joining the non-marine direct and facultative property team at Catlin Underwriting Agencies (now a part of AXA XL), where he progressed to the role of senior class underwriter for downstream energy and power in 2016 and became UK head of energy in 2019.

Luis Prato, chief underwriting officer of UK & Lloyd’s at AXA XL, said: “I’m delighted that Peter will be taking on responsibility for our London-based marine, energy & aerospace business, which is an important part of our operations in London. Having the right team in place is an integral part of our commitment to support our clients as they manage the risks they face today and in the future.

“Peter has excelled in his role as UK Head of Energy and has built up a strong reputation both within AXA XL and the wider insurance market. His high level of technical expertise and knowledge will further strengthen our proposition and help to ensure we are the insurance partner of choice in this important region. His appointment is also a demonstration of the depth of talent we have at AXA XL.”