AXA XL strengthens cyber capabilities across Europe and APAC

AXA XL Insurance has announced (15 May 2023) it has expanded its cyber underwriting capabilities in Europe and Australia.

The company has added 10 cyber underwriting experts to the team across the region:

• Sylvie Verdier, Switzerland
• Niccolò Magnani, Italy
• Diego Rodríguez Vázquez, Iberia
• Maria Silvia Demattei, Iberia
• Magnus Flyrin, Nordics
• Rabia Ok, Nordics
• Giovanni Belhadj, Nordics
• Grace Coleman, Australia
• Nicholas “Nick” Maxwell, Australia
• Alberto Piccena, Australia

These underwriters will collaborate with brokers in their respective markets to help AXA XL’s clients manage their cyber-related risks.

Ana Dores, Chief Underwriting Officer, International Financial Lines – APAC & Europe at AXA XL, commented: “The European cybersecurity market is estimated at more than €130 billion and is growing at a rate of 17% a year, while Australia saw an increase of nearly 13% in cybercrimes reported to the Australian Cyber Security Centre last year. These are clear signs that businesses, in Europe and Australia, appreciate the risks associated with cyber security, and understand the need and urgency to protect their operations and minimize their exposure.”

She added: “The demand for cyber insurance solutions in Europe, Asia and Australia is growing, and our clients are increasingly turning to us to develop tailored solutions to help them prevent, mitigate and transfer the risks associated with technology. We want AXA XL to play a key role in the development of cyber solutions and believe that now is the time to invest in growing our team.”

These appointments follow that of Carlos Rodriguez Sanz as Regional Product Leader, Cyber for APAC & Europe.

Ms. Verdier has 14 years of experience in financial lines and cyber underwriting. She started her careers with Zurich Insurance Company Ltd where she held various underwriting roles. She then worked for AXIS Capital as a Senior Underwriter, Cyber & Professional Lines before joining Chubb Insurance Limited as Cyber Practice Lead and Financial Lines Team Leader.

Mr. Magnani started his career in 2012 with Europ Assistance Italia S.p.A. before joining AON S.p.A. as an account executive specialising in Professional Services. He then joined Marsh S.p.A. as Cyber Leader and Client Advisory.

Mr. Rodríguez Vázquez has a wealth of experience in IT security having worked as an IT Risk and Cyber Security Consultant for PwC Spain and S21sec between 2014 and 2019, before joining Chubb as Cyber Underwriter.

Mrs. Demattei started her career in insurance in 2007 as a financial lines broker for JLT Re Colombia, before joining Aon in London in 2013 as Associate Director, Financial & Professional Services for Latam, the Caribbean and Iberia. She then moved to Madrid where she held a number of leadership roles in financial lines and cyber at Aon.

Mr. Flyrin has more than 30 years of experience in the re/insurance industry, both in broking and underwriting. He specialized in technology underwriting when he joined Chubb Insurance Company of Europe SA as Senior Technology Underwriter and has since held a number of senior roles at Chubb and Aon Sweden AB where he most recently was Senior Specialist Broker, Cyber.

Mrs. Ok started her career in insurance broking in June 2005 with UIB Insurance Brokers SA before joining Aon where she spent 12 years, first as Senior Client Coordinator, and later as a financial lines broker.

Mr. Belhadj started a career in sales in 2001 before joining the insurance industry in 2021. He first worked as an assistant broker for Söderberg & Partners and later on as Cyber Underwriter at Säkra.

Mrs. Coleman began her career in the insurance market in 2019. Starting her career at a global American insurance company, she has worked across various product lines - Property, Life Science, Financial Lines – before finding a home in Cyber and Technology. In July 2022, Grace moved across to Brooklyn underwriting – a division of AXA XL – to lead Cyber and Technology for the SME space.

Mr. Maxwell has nearly 15 years’ experience in the insurance market. He started his career in a multinational brokerage firm in Sydney, Australia. In August 2019, he moved to London where he worked as Cyber and PI underwriter for a global American insurance company. In late 2020, he moved back to Australia where his latest role, prior to joining AXA XL, was Practice Lead – Commercial Cyber.

Mr. Piccena has 20 years of experience in the insurance industry, first on the broker side, having held distribution roles at Marsh in Italy, at Willis in London and then Sydney and at Aon Risk Solutions. He became Senior Financial Lines Underwriter in 2014, working for Allianz Global Corporate & Specialty, before joining Gallagher, returning to Aon as Client Director, Cyber Practice.

Authored by AXA XL