France-headquartered global re/insurer AXA has announced that its ceded reinsurance teams from across the entire Group, including AXA XL are coming together under the leadership of Guy Van Hecke, as the firm looks to align strategies and recognise synergies in its reinsurance buying.
Guy Van Hecke will lead the unified AXA Ceded Re team, continuing in his dual capacity as Group Head of Ceded Re and Head of Ceded Re for AXA XL.
His main reporting line to Nancy Bewlay, Chief Underwriting Officer of AXA Group, will continued, while Van Hecke will also maintain a matrix reporting line to Scott Gunter, CEO of AXA XL, for AXA XL-related responsibilities, the company explained.
“By bringing together the strengths and expertise of our AXA Group and AXA XL teams, we are creating a more integrated and agile Ceded Re structure that will strengthen our partnerships globally, ” said Guy Van Hecke, Head of Group and AXA XL Ceded Re.
“This strategic alignment enables us to reduce duplication, enhance market presence, and ensure seamless communication across our global operations.”
AXA said the move to consolidate its reinsurance buying under a single team is designed to promote a consistent strategy when it comes to ceded reinsurance operations, leverage shared strengths across the group, streamline communication and ensure a unified voice when speaking with brokers and reinsurers, while also optimising governance across this important business function.
Overall, the company hopes to achieve greater predictability and reliability in interactions with the reinsurance market, while enhancing satisfaction for partners, promoting transparency and responsiveness, and driving efficiency and accelerated decision making.
“We believe these changes will not only strengthen our internal operations but also enhance the quality and effectiveness of our partnerships,” said Guy Van Hecke, Head of Group and AXA XL Ceded Re.
“By aligning teams and elevating leadership across key areas, AXA is well – positioned to deliver on its commitment to operational excellence, innovation, and trusted relationships across the global reinsurance landscape.”
Guy Van Hecke took on the Head of Ceded Reinsurance position at AXA Group in September 2024, while also retaining the same role at AXA XL.
At the time it was said to be an interim retention of the AXA XL role, but now the company has opted for a unified front to the reinsurance and retrocession markets, with Van Hecke leading its protection buying strategy.
Within its ceded reinsurance, AXA has utilised collateralized capacity including catastrophe bonds and insurance-linked securities (ILS) over the years.
The company has never been a big sponsor of cat bonds, but returned in 2023 with a first Eiffel Re Ltd. (Series 2023-1) European windstorm deal, so it will be interesting to see if it now returns to tap into cat bond investor appetite more meaningfully under this consolidated approach to reinsurance and protection buying.
Of course, AXA also has optionality with third-party capital under its AXA XL ILS Capital Management unit, which takes cessions from the parent company and backs them with third-party investor capital.
