AXA XL taps financial lines chief to fill big global role

Re/insurer  AXA XL has tapped an insider, managing its global financial lines business, as new global chief underwriting officer, replacing Nancy Bewlay who moved to become  AXA XL’s reinsurance CEO in March following the  exit of Charles Cooper.

Libby Benet (pictured) has been appointed to the role of GCUO.

Benet joined  AXA XL in 2020 assuming the new role of chief underwriting officer for cyber, tasked with closely monitoring the cyber risk portfolio and exposure from an aggregated global product view. When  AXA XL implemented its new operating model, she expanded her role, assuming GCUO responsibilities for all financial lines, including cyber.

Prior to her tenure at  AXA XL, Benet managed her own consultancy where she assisted insurance company clients in the development and implementation of new insurance products and consultation on the set up of underwriting and claims systems and feedback on reinsurance purchasing. Her insurance career also includes positions with Beazley, General Reinsurance and Zurich.

AXA XL CEO Scott Gunter said: “Given the GCUO’s responsibility for underwriting governance, pricing, risk aggregation and global product strategy, this is a big role to fill, and Libby is well prepared for it. Libby has done an impressive job working with our regional underwriting teams to support their disciplined underwriting, improve pricing, and manage our aggregate exposure in support of our profitable growth. Libby’s proven leadership, market insight and portfolio management experience will continue to prove valuable in her new expanded leadership role.”

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