AXA XL Names North American Construction Business Profit Center Heads

AXA XL's North America construction business has promoted Ray Allen and Jim Richert to lead its construction professional business line and subcontractor default insurance (SDI) business line respectively.

In his new role as head of AXA XL's SDI profit center, Mr. Richert will assume underwriting management oversight of AXA XL's SDI business, offering general contractors and construction managers financial protection against potential financial losses resulting from subcontractors' failure to perform.

Mr. Richert brings 25 years of experience in the construction industry to his new position, including 15 years focused on SDI. Since 2011, he has managed the business line's team of SDI risk engineers that provides consultation, training, and best practices to help contractors minimize subcontractor default risk. He is a graduate of Clarkson University.

As head of AXA XL's construction professional profit center, Mr. Allen assumes underwriting management of AXA XL's contractors professional and environmental liability insurance coverages. He brings more than 20 years of professional liability and pollution insurance experience gathered in the course of various claims, underwriting, and management roles. Mr. Allen is a graduate of Drexel University.

"Since we launched our construction business more than 10 years ago, Jim and Ray have been instrumental in growing our book of business and developing the products, services, and talent that our construction clients have come to count on," Gary Kaplan, head of AXA XL's North America construction business said in a statement. "It's exciting to see them now apply their risk management expertise, construction industry knowledge, and proven leadership skills to bigger roles as our new profit center leaders."