XL Group Execs Depart, Jobs Shift in Anticipation of AXA Acquisition

May 15, 2018

AXA SA’s planned $15.3 billion cash acquisition of XL Group has spurred management change and departures at the soon-to-be-acquired company as integration plans progress.

Announced in March, the merger is designed to help the combined companies capture a bigger slice of the U.S. P/C insurance market. It has not yet closed.

XL Group CEO Mike McGavick and Chief Operating Officer Greg Hendrick announced the changes in a letter to employees. Only XL Catlin and XL Group leadership team personnel are affected at this time.

Here are the XL Catlin leadership team changes:

As for plans regarding the current XL Group leadership team:

To prepare those transitions, the plan is to implement the following changes to be effective with the above-mentioned departures:

Some Execs to Be Focused on Merger Work

Two senior leaders of AXA are working work on the outline and organization of two functions which will report directly to Hendrick:

Source: XL Group

*A version of this story appeared previously in our sister publication Insurance Journal.