Canadian Underwriter

AXA XL hires two energy business underwriters

March 3, 2022   by Canadian Underwriter Staff

Oil rig at sunset.

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AXA XL has named Kate Zhou as senior underwriter and Ian Lui as underwriter for its Canada energy business. Both are based in Toronto.

Zhou will report to Jennifer Arezes, head of property, construction and energy in Canada, who called Zhou “one of the top energy underwriters in the country. Gaining Zhou’s experience, Arezes added, “will not only bolster our underwriting capabilities, but reaffirm our commitment to the energy sector in Canada.”

Zhou was most recently technical account manager for global specialty lines at Royal & Sun Alliance Insurance Company of Canada. Lui, who will report to Zhou, held various risk- and account-management roles at FM Global since 2012.

Arezes said Lui “has wide-ranging experience across risk management for large commercial companies and will bring a fresh talent perspective to our team.”

AXA XL provides specialized property insurance solutions to energy companies in Canada for oil rig, oil and petrochemical, chemical, and power-generation insurance needs.

Last fall, AXA made policy revisions to limit exposure in its investment and underwriting portfolios of unconventional oil & gas activities – methods outside of traditional vertical well extraction.

It also said it would cease to underwrite new insurance coverage for new upstream oil greenfield exploration projects, or projects where there’s been minimal to no previous exploration.

The company continues to underwrite insurance for ‘energy transition leaders,’ which it defines as oil and gas companies with far-reaching and credible transition plans to achieve net-zero emissions.