Former New Ocean CEO McKeown departs AXA XL; re/insurer eyes ILS growth
Re/insurer AXA XL has revealed that Chris McKeown, the former CEO of New Ocean Capital Management, has stepped down from his role as vice chairman to pursue other interests outside the company.
AXA XL completed the acquisition of all third party ownership interests in New Ocean in November 2018.
McKeown, who has more than 30 years of re/insurance and alternative capital management experience, was the founding chief executive officer of New Ocean in 2013. Most recently, he has served as an advisor to AXA XL’s alternative capital business and continued to serve as a director of certain New Ocean managed funds.
Daniel Brookman, who leads AXA XL's alternative capital team, said: “As we expand AXA XL’s presence in the alternative capital space, we will continue to leverage our internal resources to create additional catastrophe and non-catastrophe portfolios for third party investors in co-participation with the underwriting franchises of AXA XL as well as AXA Group. We wish to thank Chris and his team for their efforts to date.”
Charles Cooper, AXA XL’s chief executive, reinsurance, added: “We are excited about New Ocean’s future as an aligned asset manager, and thank Chris for his efforts in the initial phase of New Ocean’s development.”
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