Axa XL announced on Tuesday that Laurent Richème has been appointed global chief underwriting officer for property, succeeding Juergen Cherreck, who will retire in July following a 21-year tenure with the company.
In his new global role, Richème will be charged with directing Axa XL’s underwriting strategy for its property, construction and energy franchises. The company said he will work alongside underwriting teams in each region to align and execute that strategy.
Richème joins the expanded remit with more than 25 years of experience in insurance and risk engineering. Since 2021 he has been serving as Axa XL’s chief underwriting officer responsible for property, energy and construction across Asia Pacific and Europe.
Cherreck’s impending retirement brings to an end a 21-year association with Axa XL. The company identified Richème as the successor who will take over the global leadership of the property underwriting function when Cherreck departs in July.
The appointment formalizes leadership for Axa XL’s global property underwriting while maintaining explicit coverage of construction and energy lines under the same global oversight. The role includes collaboration with regional underwriting teams, reflecting the company’s approach to coordinating global strategy with local execution.
Summary
- Laurent Richème named global chief underwriting officer for property at Axa XL.
- He replaces Juergen Cherreck, who will retire in July after 21 years with the company.
- Richème will oversee global underwriting strategy for property, construction and energy and will partner with regional underwriting teams.
- He has more than 25 years of experience and has held the role of chief underwriting officer for property, energy and construction for Asia Pacific and Europe since 2021.
Key points
- Leadership change at Axa XL consolidates global oversight of property, construction and energy underwriting under Laurent Richème.
- The appointment follows Juergen Cherreck’s announced retirement in July after 21 years at the firm.
- Sectors directly affected by the leadership arrangement include property insurance, construction risk underwriting and energy-related underwriting.
Risks and uncertainties
- Leadership transition - The change in global underwriting leadership introduces a period of transition within Axa XL’s property, construction and energy underwriting operations ahead of Cherreck’s July retirement.
- Continuity considerations - Cherreck’s departure after 21 years represents a change in long-tenured leadership, which may create near-term uncertainty as responsibilities move to Richème.
Where the original announcement provides limited detail on implementation, this report reflects only those facts explicitly stated by the company regarding the appointment, responsibilities and prior roles.