Waters will be based in Boston and will report to Joe Tocco, CEO of the Americas for AXA XL. in his new role, Waters will build out the company’s target middle market client offering.
“In the US, AXA XL’s market leadership in the large commercial, financial lines and specialty insurance segments is well-established,” Tocco said. “Extending our presence in the adjacent middle-market business in the US is a clear opportunity.”
Tocco said that by the middle market, AXA XL meant companies with operations requiring underwriting, claims and risk services. Off-the-shelf products generally do not meet those companies’ needs, he said.
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“We’re excited to have someone with Matt’s experience and track record to help us determine how we can better serve this important market segment, which we believe would benefit from AXA XL’s expertise and capabilities,” he said.
Waters has more than 20 years of middle-market underwriting management experience across a spectrum of property-casualty segments. Prior to joining AXA XL, he served as executive vice president and general manager for Liberty Mutual’s middle market business.