AXA XL appoints head of climate

AXA XL has appointed Andy MacFarlane to a newly-created role as head of climate. He will be responsible for developing a single, global climate strategy for AXA XL.

Scott Gunter, CEO of AXA XL, said: “AXA’s climate strategy demonstrates our clear commitment to climate and biodiversity and includes actions such as divesting from certain carbon-intensive industries alongside launching and chairing the Net-Zero Insurance Alliance (NZIA) to accelerate the transition to net-zero emissions economies.

“Andy is charged with embedding our climate strategy across AXA XL from underwriting to claims, to risk and operations ensuring that we meet our climate leadership ambitions.”

MacFarlane started his career at Equitas in London in 2001 before joining the Catlin Group in 2003. After holding various actuarial roles in London and Bermuda, he was promoted in 2018 to head of pricing & analytics for London & Bermuda for AXA XL Reinsurance.

MacFarlane has worked extensively on initiatives and research projects looking at creating resiliency to climate change throughout the world.

A key focus has been the need to close the protection gap – the gap between economic and insured losses –- particularly in developing economies where typically more than 90% of the risk is uninsured. 

The public sector is a key partner in helping to address the protection gap and MacFarlane also leads the Public Sector Practice group at AXA XL.