AXA XL Announces New Role to Develop Middle Market Business in the US

AXA XL Insurance has appointed Matthew Waters as Head of US Middle Market to lead an initiative to expand its reach in the US commercial insurance market.  Based in Boston, Mr. Waters reports to Joe Tocco, AXA XL’s CEO of the Americas.

Commenting on the appointment, Mr. Tocco said: “In the US, AXA XL’s market leadership in the large commercial, financial lines & specialty insurance segments is well-established. Extending our presence in the adjacent middle market businesses in the US is a clear opportunity. When we speak about middle market, we are referring to those companies with operations that require expert underwriting, claims, and risk services. Off-the-shelf products and services generally do not meet their needs.”

“We’re excited to have someone with Matt’s experience and track record to help us determine how we can better serve this important market segment which, we believe, would benefit from AXA XL’s expertise and capabilities.”

In his new role Mr. Waters will build out our target middle market client offering, leveraging AXA XL’s strength in underwriting, data, risk consulting and claims handling to deliver tailored solutions for these identified businesses.

Mr. Waters joins AXA XL from Liberty Mutual, bringing more than 20 years of middle market underwriting management experience and demonstrated leadership across various and diverse property/casualty segments including Construction and Energy. He most recently served as EVP, General Manager for Liberty’s Middle Market business, managed approximately $1B nationwide P&L, CUOs and Division Vice Presidents for Middle Market Underwriting.  In addition to his management responsibilities, he also served as an executive sponsor for several Employee Resource Groups including Men as Allies.