#United States #New York #AXA XL #Commercial Insurance #Matt Waters

AXA XL Strengthens Leadership with New Appointment

On August 11, 2026, AXA XL announced a significant leadership change set to reshape its approach to the Large Commercial and Specialty business segment. The company has appointed Matt Waters to spearhead this division, reflecting a strategic move to adapt to the evolving landscape of commercial insurance. This appointment comes at a time when both clients and the market are navigating complex risks and operational challenges.

Lucy Pilko, the CEO for AXA XL in the Americas, emphasized Waters' impressive leadership skills, stating that his track record of building successful teams and businesses, particularly within the Mid-Market division, positions him remarkably well to tackle the challenges ahead. "Our clients in the Large Commercial and Specialty sectors face increasingly intricate risks in a competitive environment," said Pilko. "Matt’s substantial experience will be crucial in driving our strategic vision forward and enhancing the relationships we maintain with both clients and brokers."

A Focus on Growth and Underwriting Discipline

In his new role, Waters is expected to manage AXA XL's Large Commercial and Specialty portfolio across North America, including the US, Canada, and Bermuda. His immediate priorities will center on fostering profitable growth while reinforcing the company’s underwriting discipline. This is particularly pertinent given the current market uncertainties that have made risk management and solid underwriting practices more important than ever.

Waters is projected to enhance AXA XL’s ability to attract top-tier talent. By leveraging his experience and the capabilities of their existing underwriting staff, Waters aims to create innovative solutions that support the insurance needs of their diverse clientele. His strategic vision includes ensuring that the company can provide consistent and disciplined underwriting practices while also delivering valuable solutions that resonate with the unique challenges faced by businesses today.

A Proven Track Record

Prior to joining AXA XL in 2022, Matt Waters accumulated 25 years of experience at Liberty Mutual. There, he held various senior leadership roles, overseeing a broad spectrum of property and casualty segments such as Construction and Energy. His successful tenure at Liberty Mutual established a solid foundation upon which he intends to build at AXA XL.

Since stepping into the role to launch AXA XL's Mid-Market business, Waters has successfully driven the expansion of his team and portfolio, consistently exceeding growth expectations. Under his leadership, the Mid-Market division effectively combined rigorous underwriting discipline with strong business results across multiple key industries.

As the company looks to the future, Waters’ appointment symbolizes a commitment to not only maintaining the high standards of their insurance offerings but also evolving to meet the changing needs of a dynamic market. His experience and leadership style emphasize collaboration, which is essential in the insurance industry.

Looking Ahead

With Waters at the helm, AXA XL anticipates not just sustaining its growth trajectory but also enhancing its reputation as a provider of innovative insurance solutions. Jim DiVirgilio, AXA XL's recently retired Chief Claims Officer, will temporarily lead the Mid-Market team while the search for new leadership progresses, ensuring that the momentum continues with a strong focus on client needs.

With a strategic focus on fostering relationships and driving growth, Waters' leadership is positioned to navigate the complexities of the insurance market effectively. Stakeholders across the board, from clients to industry observers, will be eager to see how his leadership will influence AXA XL’s role in the landscape of commercial insurance moving forward.