AXA XL Re secures Kiernan from Allianz ART as Head of US Real Estate, Bermuda Reinsurance

AXA XL Re, the global reinsurance arm of AXA Insurance Group, has announced the hiring of Peter Kiernan of Allianz Risk Transfer (ART) who joins the company as the new Head of US Property, Bermuda Reinsurance .

Kiernan succeeds Simon Penney, who is moving to London to take on a new global role at AXA XL as Head of Underwriting Analytics.

Kiernan will take up his new role at AXA XL on July 1 and will be responsible for its US real estate strategy and the execution of business underwritten through AXA XL’s Reinsurance Bermuda operation.

He has over 30 years of industry experience and a history of underwriting and business development in real estate in the United States.

Kiernan began his career with PXRE Reinsurance Limited, Bermuda in 2002, then joined Axis Specialty Limited in 2006, managing a team of underwriters, cat modellers and underwriting assistants supporting a reinsurance portfolio of exposed property treaties worldwide, including catastrophe, per-risk and pro-catch contracts.

In 2012, he became President and CEO of Axis Re Bermuda, leading its North American real estate unit. Kiernan then joined Allianz Risk Transfer, Bermuda in March 2020 as Head of North American Reinsurance.

Jonathan Gale, Director of Underwriting, Reinsurance and Acting CEO of Bermuda Reinsurance, commented on Kiernan’s hire: “Peter has extensive reinsurance experience in portfolio management, underwriting and client relations. His appointment will continue our legacy of services and solutions and we are very pleased to have him join the Bermuda reinsurance team. I would like to thank Simon for his dedication and excellence over the past 15 years and we look forward to working with him in his new role.

Commenting on Penney’s new role as Head of Underwriting Analytics, Gale said: “Simon has over 17 years of actuarial and underwriting experience, with a deep understanding of AXA XL Reinsurance. He brings this experience to my team, ensuring that our pricing, planning, capacity allocation, use of data and analytics, and interaction with Ceded are as good as possible.

As Head of Underwriting Analytics in London, Penney will be responsible for pricing standards, internal risk views and portfolio management across all areas of the reinsurance segment, reporting directly to Gale.

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