Axa XL has made Matt Waters head of its large commercial and speciality business unit.

Lucy Pilko, Axa XL’s chief executive, Americas, said their large commercial and speciality clients are navigating increasingly complex risks in a challenging insurance environment.

“Matt’s proven leadership in building successful businesses and teams, especially in expanding our middle-market division, highlights his ability to drive strategy, strengthen relationships and foster growth,” she said. “He is excited to leverage our talented large commercial and speciality underwriting teams to support consistent disciplined underwriting and deliver valuable solutions to our clients and broker partners.”

Mr Waters will be responsible for leading Axa XL’s large commercial and speciality lines portfolio across the US, Canada and Bermuda.

He will focus on driving profitable growth, enhancing underwriting discipline, attracting top-tier talent and further strengthening the company’s relationships with brokers and clients across North America.

Mr Waters joined Axa XL in 2022 to launch its mid-market business in the Americas. Since then, he has led the buildout and expansion of his team and product portfolio. The firm said under his leadership, the business has consistently exceeded growth expectations, delivering strong, profitable expansion across key industries while maintaining rigorous underwriting discipline.

He previously spent 25 years at Liberty Mutual, where he held a series of senior leadership positions across a wide range of property and casualty segments, including construction and energy.

Jim DiVirgilio, Axa XL’s recently retired chief claims officer who is now serving in an advisory role, is stepping in to temporarily lead the mid-market team while a search for new leadership is conducted.