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Axa XL, a unit of Axa SA, has launched a local captive practice in Canada.
Alonso Tello, previously the senior fronting manager, captive services and alternative risk transfer for Zurich Insurance PLC in London, will oversee the growth of Axa XL's captive business in Canada, providing technical support across business lines in structuring global captive programs, ensuring global programs are in compliance and following best practices and working with clients and broking partners to develop new and innovative captive products, the insurer said in a statement on Monday.
"We are very excited to launch local captive capabilities in Canada,” Urs Uhlmann, CEO and country manager for Axa XL, Canada, said in the statement.
Axa XL announced last week that its Bermuda and London reinsurance platforms will be combined to create a global markets business focused on catastrophe, casualty and specialty lines led by Rob Littlemore, chief executive of its London reinsurance business.
Axa XL, a division of Axa SA, on Wednesday said it has created a first-party cyber insurance option to help U.S. businesses cover business interruption exposures resulting from a cyberattack.