AXA XL, a Bermuda-based subsidiary of French re/insurer AXA, has introduced a local captive practice to in Canada.
The new service will look to meet the rising demand for captive and alternative risk transfer expertise in Canada, the company said.
Alonso Tello has been appointed to manage the new practice. He has more than ten years of experience in the insurance industry.
He will be responsible for offering technical support across business lines in structuring the global captive programme.
Besides ensuring that global programmes comply with best practices, Tello will collaborate with AXA XL clients and broking partners to create new captive products.
Prior to joining AXA XL, he was working with Zurich’s London office as a senior fronting manager – Captive Services and ART (Commercial Insurance UK).
AXA XL Canada CEO and country manager Urs Uhlmann said: “We are very excited to launch local captive capabilities in Canada.
“As a global practice, our specialised background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from all industries and sectors.”
Commenting on Tello’s appointment, Uhlmann said: “We are particularly excited to kick-off this new Canada-based practice with the leadership of a captive expert like Alonso.
“His vast experience in the space will be a great asset to our Canada-focused practice by combining his expertise in the international market with AXA XL’s unparalleled global capabilities.”
AXA XL provides global programmes and captive fronting for workers compensation, general liability, property, business interruption, environmental, marine cargo, among others