Based in London, Delic will report to Scott Gunter, CEO of AXA XL, and Matthieu Caillat, Group Chief Technology & AI Officer and CEO of AXA Group Operations.

She brings more than two decades of technology experience. She joins AXA XL from Abdul Latif Jameel, where she most recently served as Corporate Chief Digital and Information Officer.

Prior to that, Delic was Global Head of Value Realisation at Aon. She also held Chief Information Officer roles at Givaudan and GE Healthcare and served as Group Chief Information & Digital Officer at Coca-Cola İçecek.

Gunter commented, “Leyla brings a wealth of experience in technology and digital leadership, with an impressive track record of helping global businesses modernise, scale and unlock value through digital and AI transformation. She will shape our technology roadmap and drive the deployment of AI capabilities across our organisation to enhance our offerings and drive operational efficiencies.”

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Weaver joins AXA XL from QBE, where he most recently served as Head of Underwriting Oversight for QBE Portfolio Solutions.

Before this, he held several energy roles at QBE, including Head of Sustainable Energies, Portfolio Manager – Upstream Energy and Senior Offshore Energy Underwriter.

Based in London, Weaver will reportedly begin his role in Q3 2026.

Louise Nevill, Chief Underwriting Officer Specialty, UK & Lloyd’s at AXA XL, commented, “Our energy offering has scale and breadth, assisting all players in the future energy mix of renewable energy, decarbonised technologies and more traditional energy sources.

“In an uncertain world, clients more than ever require a stable partner: an insurer who can deliver exceptional service, has a deep understanding of their business and an insight into the risk landscape they are navigating.

“Sebastian’s experience will complement our energy offering. He has an excellent reputation, a proven track record and the expertise required to help clients navigate evolving market cycles and uncertain risk landscapes.”

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This growth was supported by alternative capital and favourable price effects in casualty, partly offset by a softening in other lines, explained AXA.

Meanwhile, the insurer’s wider P&C segment saw a 5% growth on a comparable basis in GWP and other revenues to €58 billion, up from €56.5 billion in FY’24.

For FY’25, commercial lines GWP and revenues grew by 4% to €35.8 billion, compared to €34.9 billion in FY’24, driven by 3% growth in AXA XL Insurance, 13% rise in Asia, Africa & EME-LATAM, and 6% growth in France from favourable price effects in all lines of business and higher volume

Personal lines grew by 7% on a comparable basis to €19.7 billion, compared to €19.1 billion in FY’24, driven by 5% growth in Europe from favourable price effects across geographies, 14% growth in Asia, Africa & EME-LATAM and 9% increase in France.

For FY’25, the combined ratio improved by 0.3 points to 90.6%, compared to 91% in FY’24, due to lower undiscounted current year loss ratio excluding natural catastrophe, further margin expansion in commercial lines in a favourable pricing environment, while margins at AXA XL Insurance were stable at attractive levels.

Additionally, growth in personal lines in a conducive pricing environment, lower expense ratio, and lower natural catastrophe charges also contributed to an improved CoR.

Lastly, P&C underlying earnings were up 9% to €5.9 billion for FY’25, compared to €5.5 billion in FY’24.

Thomas Buberl, Chief Executive Officer, AXA, commented, “Our P&C franchise posted stellar results, combining a healthy balance between price and volume with best-in-class margins, a lower expense ratio and higher investment income. AXA XL Insurance increased earnings with stable underlying margins.”

The carrier’s life & health (L&H) division recorded GWP and other revenues rise of 8% to €56.5 billion compared to €52 billion in FY’24.

Premiums in Life grew by 9% to €37.5 billion compared ot €34.5 billion in FY’24, driven by 11% growth in Protection. While Health premiums grew by 5% to €19 billion, compared to €17.5 billion in FY’24, driven by favourable price effects in both Group and Individual businesses across most geographies, partly offset by lower volume.

Within L&H, the present value of expected premiums decreased by 2% to €49.4 billion for FY’25. Although there was a 1% growth in Life, from higher volumes in Hong Kong, France, and Switzerland, Health dipped by 12% due to lower volumes in France following underwriting and pruning actions. Both segments were impacted by higher interest rates on the discounting of future premiums.

The FY’25 underlying earnings for L&H increased by 7% to €3.5 billion, compared to €3.3 billion in FY’24.

Buberl added, “In Life & Health, earnings rose by 7%, with Life already reflecting the early benefits of our strategy to rejuvenate the business and Health growing by 17% even after absorbing the adverse change on VAT treatment in Mexico, underlining the strength of our portfolio.”

As a whole, AXA’s GWP and other revenues grew by 6% to €116 billion for FY’25, compared to €110 billion in FY’24. The insurer’s underlying earnings rose by 6% to €8.4 billion, compared to €8 billion in FY’24. The FY’25 net income rose by 26% to €9.8 billion compared to €7.9 billion in FY’24.

Looking ahead, AXA is confident it will achieve its main financial targets, underpinned by profitable organic growth, scaling technical capabilities across its businesses, and driving operational efficiency across the organisation through reinforced cost management.

Buberl stated, “In 2025, AXA delivered another year of very strong performance, with +9% earnings growth in our core businesses excluding AXA IM. We have taken advantage of these excellent results to further enhance reserve prudence. Our investments in automation and Artificial Intelligence are paying off, driving efficiency gains. Our Solvency II ratio is at a very strong level.

“These results demonstrate the earnings power of our well-diversified franchise and reinforce our confidence in AXA’s ability to generate sustainable, long-term value. I would like to thank all our colleagues, agents and partners for their commitment, as well as our customers for their continued trust.”

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In the new role, he is based in Atlanta, and reports to Jon Tellekamp, Chief Underwriting Officer, Construction, AXA XL.

Carnazza will oversee the development and execution of the firm’s construction property strategies across the Americas, with a focus on innovative risk transfer solutions, strengthening client relationships, and enhancing the firm’s underwriting capabilities.

Most recently, Carnazza served at AIG as Head of Underwriting, US Builders Risk. He has a decade long expertise in property and construction risk management and experience assessing and mitigating complex construction exposures.

Tellekamp commented on the appointment, “Construction projects today demand a thorough grasp of potential risks and the resilience to adapt to unexpected challenges. As projects grow more complex, partnering with a knowledgeable expert who understands the nuances of construction risk is crucial.

“Greg’s experience, dedicated to construction and commercial property, and strategic underwriting approach make him the ideal leader for our Construction Property team, ensuring we effectively support our clients through these demanding times.”

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The moves are part of the company’s ongoing efforts to reinforce leadership across key specialty businesses in the region.

Mikki Williams has been named Head of Ocean Marine, overseeing Cargo, Hull & P&I, and Marine Liabilities. Based in Seattle, Williams has built broad expertise through years of experience in marine underwriting and risk assessment.

In this role, Williams will direct the Ocean Marine portfolio across the Americas, guiding underwriting strategy, portfolio management and market engagement within the marine specialty segment.

Doug Schmude has been appointed Head of Commercial Bonds. Operating from Chicago, Schmude will lead the commercial bonds portfolio, with responsibility for business development, underwriting oversight and broker engagement. Drawing on extensive market experience, Schmude will work to further develop capabilities and support client needs across this line of business.

Sylvain Bouteillé, Chief Underwriting Officer, Specialty, Americas, commented: “Mikki and Doug exemplify the talent, dedication, and expertise that are at the core of AXA XL’s success. Their promotions reflect their outstanding contributions and our confidence in their ability to lead these vital segments into the future.”

Donna Nadeau, Head of Large Commercial Insurance Americas, said: “Both Mikki and Doug have been invaluable members of our team for many years. Their knowledge and leadership will undoubtedly support our continued growth and our commitment to delivering exceptional value to clients.”

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In his new role, Saive will oversee the motor insurance underwriting strategy for the two aforementioned business units, and the French market directly, working closely with the regional and local underwriting teams.

Most recently, he served as the Head of Reserving in the Risk function of AXA XL.

Saive has 15 years of industry experience and started his career in consulting before joining AXA Corporate Solutions in 2011 as Casualty Underwriter for France and Benelux.

In 2015, he moved to AXA Gie as Risk Manager, P&C Underwriting and Reserving.

Marine Ress, Chief Underwriting Officer of Casualty, APAC & Europe, commented, “The cost of car repairs has surged in many markets where our clients operate. For example, in France, the average cost of vehicle repairs after a breakdown or crash has increased by 25.7% since 2020, according to SRA.

“Against this backdrop, and with the emergence of new mobility solutions, our clients’ risk landscape is evolving rapidly.”

Stéphane Tinturier, Head of Casualty, AXA XL, France, added, “Thomas brings 15 years of insurance experience and a deep understanding of our clients’ changing risks. He is ideally positioned to lead our Motor business and support our clients, both at regional level and in the French market.”

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The pair’s collaboration kicked off in 2024, with USMIG acting as a program manager for AXA XL.

This allows AXA XL to deliver specialised underwriting expertise, and tailored coverage options to meet the needs of transportation, logistics and construction clients.

Driven by this offering, shippers now increasingly offer coverage to their customers via certificates or special policies, both domestically and internationally.

Meanwhile, digital platforms now enable logistics providers to offer the aforementioned coverage at the point of sale, embedded in routing or freight management systems. These solutions allow per-shipment coverage and instant certificate issuance through APIs or portals, explained AXA XL.

Lastly, freight forwarders also provide shipper’s interest coverage as a value-added service, giving shippers access to protection without having to secure separate policies.

Ken Mueller, Head of Inland Marine, AXA XL, commented, “Highlighting Shipper’s Interest coverage reinforces our commitment to delivering flexible, industry-specific solutions that address the changing needs of transportation companies. Together with USMIG, we’re ensuring our clients have comprehensive protection for their assets throughout the supply chain.”

Joseph DiPaola, President, USMIG, added, “Our collaboration with AXA XL reflects how we’re adapting to a shifting supply chain landscape. By focusing on Shipper’s Interest insurance, we help fill gaps left by traditional inland marine policies and provide shippers and consignees with peace of mind across domestic and international routes.”

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Billingslea, who brings a wealth of experience in E&S Energy, will lead the development and growth of the energy sector team.

In this new role, he will focus on portfolio expansion, strengthening broker relationships, and delivering innovative, solution-driven strategies to enhance profitability.

Betsy Higgens, Head of Casualty for E&S, commented: “Jason’s industry expertise, strategic outlook, and dedication to broker relationships make him the ideal leader for our energy division.

“We are eager to see how he leverages his experience to further expand our energy offerings and deliver value to our clients and partners.”

Before taking on his new position, Billingslea served as an Energy Liability Underwriter at AXA XL.

His extensive experience includes previous roles such as Regional Sales Manager at AmTrust Financial Services and General Agency Manager of Growth and Development at Horace Mann Educators Corporation.

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In her new role, Hazlewood will oversee relationships with AXA’s most strategic accounts worldwide, fostering partnerships across the Group to deliver seamless access to tailored solutions.

She joined AXA in 2012 and has since held a range of roles in business development and partnerships across AXA Group, AXA Partners, and AXA XL.

Most recently, Hazlewood served as Global Enterprise Director & Head of Utilities and Energy Sector within AXA’s Global Enterprise Management team. In this role, she led the Business Relationship, Strategy, Growth Business Plan and Retention with AXA Group’s key utilities and energy partners, in collaboration with all AXA geographies and entities.

Manuel Meier, Chief Client Officer at AXA XL, commented, “Large corporate clients often have complex and diverse needs that require coordinated efforts across multiple teams within AXA. Our goal is to make this journey as personalised and straightforward as possible, building holistic strategic partnerships rooted in trust and collaboration.

“Samantha’s extensive industry expertise and proven track record of managing strategic accounts over the past 15 years position her uniquely for this position. As we continue to invest in our client engagement capabilities across AXA, she will play a vital role in further strengthening our Client-First culture and ensuring we support our clients as One AXA.”

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Yesterday, Guidée discussed current market dynamics and more on an AM Best panel, following the rating agency’s global reinsurance sector outlook revision to stable from positive.

The session was moderated by John Weber, senior associate editor, AM Best, and after an overview of the shift to a stable outlook by Greg Dickerson, Director, Global Re Analytics, AM Best, Guidée and fellow panellist Aditya Dutt, President, Aeolus Capital Management Ltd., were quizzed on the reinsurance and insurance-linked securities (ILS) markets.

On the heels of the January 1st, 2026, reinsurance renewals, during which further property market softening occurred while casualty was overall relatively stable, Guidée offered his thoughts on current market conditions.

“So, definitely, the supply of capital is on the rise. But what matters is that facing this supply of capital, you have a demand of capital, demand of capacity, demand of protection, whose growth is running unabated as well. The world is definitely becoming a riskier place. Our clients, insurers, are in need of certainty, predictability, visibility, which means that they are looking for the services provided by reinsurers to actually bridge that gap between uncertainty in the world and the certainty that they need for the running of their own business,” he said.

Adding: “So, I would characterise the state of the market as a fair and healthy balance between supply and demand of capital. And I also think that when looking at the state of the market, it’s very important to take into account, obviously, the cyclical dynamic, and there’s definitely a cycle at play, but also to take stock of the secular trends. And what is for sure is that given all the threats that are materialising and that are on the rise, both natural events and man-made events, the demand for protection goes only one way, which is up. And so that secular trend is definitely supporting the insurance market.”

In terms of any surprises at the recent 1.1 2026 renewal season, the CEO told AM Best and the audience that AXA XL Reinsurance, having consistently reviewed the market, was well prepared for the turn of events.

“We had planned for this, and one of the benefits of being really in the tent with our clients, having not only a very close dialogue with them, but also a strong partnership, is that we are able to anticipate together what will be their needs and how the market will evolve as a consequence,” said Guidée.

As the market shifts from hard to what AM Best’s Weber described as a more stable environment, Guidée emphasised that for his firm, whatever market conditions may be, the strategic priority is always to support its clients and ensure what the reinsurer brings to them is relevant and an enabler to their own success.

“This is definitely the yardstick which we use to gauge the impact that we have. So, it’s a key strategic priority, and in this market, we want to make sure that the solutions we provide continue to be as efficiently priced as possible. And this is how we fulfil the role which Greg mentioned earlier, which is a wall of balance sheet protections for our cedents and all of our clients and business partners.

“I do believe that in these market conditions, which become more selective, and you could argue a bit more challenging to navigate, this is when you can make a difference. And I think it’s fair to say that it is in that kind of market environment that the best underwriters come forward,” he said.

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