AXA XL Insurance has announced the promotion of Steven Farr as global head of upstream energy, effective immediately.
Based in London, Farr will head the insurer’s global upstream energy team and develop its upstream energy book, while expanding on and delivering underwriting strategy and product profitability, a statement from AXA XL said.
Farr began his insurance career in 2002 at Liberty Syndicates, working in claims. A year later, he moved to Wellington Underwriting, where he was later named UK property and liability claims adjuster. In 2007, he joined Catlin Underwriting Agencies Ltd (now AXA XL), following the acquisition of Wellington as a claims adjuster within the global energy team. There, he held several claims and underwriting roles, before being appointed energy class underwriter in 2012.
According to Huw Jones, chief underwriting officer for global energy at AXA XL, upstream energy is an integral part of the company’s business, and it is investing in having the right team to support its clients in dealing with the traditional and emerging risks faced by this sector.
“I’m delighted that Steve will be undertaking the role of global head of upstream energy,” Jones said. “He has considerable experience of underwriting upstream energy risks and has built up a stellar reputation in the market thanks to his close relationships and technical expertise.
“Steve’s appointment is a testament to the talent we have within the global energy team here at AXA XL; I have every confidence he will succeed in this new role and continue to be a strong partner to our clients and brokers across the world.”