PREVIOUS POSITION: New York-based vice president, energy underwriting, Zurich
OUTLOOK FOR THE INDUSTRY: I see a positive outlook for the industry, especially with the increasing focus on renewable energy. It presents a lot of potential for growth and innovation, offering great opportunities for companies that are prepared and positioned to capitalize on these changes.
GOALS FOR YOUR NEW POSITION: With over 30 years of insurance and engineering experience, I aim to bring technical and underwriting knowledge and skills to support Axa XL’s plans to grow its energy business. I plan to build on my existing broker and client relationships to find new opportunities and deliver solutions that really meet their needs.
CHALLENGES FACING THE INDUSTRY: Some challenges facing the energy insurance industry right now include intense competition, as it’s a maturing niche with a lot of players vying for market share. Despite a generally optimistic outlook, there’s still a lot of room for growth, but risks around terms, conditions and pricing can be problematic. This can lead to pitfalls if not carefully managed.
FIRST EXPERIENCE: Working at a Rohm and Haas (now part of Dow Chemical) specialty chemical plant in Texas during the early 1990s.
ADVICE FOR A NEWCOMER: My advice for someone new to the industry is to explore the many opportunities available — different roles, companies and areas. Jump in, get hands-on experience and use the first few years to learn as much as possible. Keep an open mind and cast your net wide; that’s the best way to grow and find your path.
DREAM JOB: I’m a bit of car nut and initially, being an engineer, wanted to work in the auto industry. The insurance industry, though, is a great second choice.
LOOKING FORWARD TO: I’m excited to bring my 30+ years of experience working with brokers and energy clients to this new role. I look forward to collaborating with the great people that I’ve met here at Axa XL and, most of all, I look forward to helping build an effective and profitable book of energy business.
COLLEGE MAJOR: Mechanical engineering
FAVORITE MEAL: New York strip steak
HOBBIES: Skiing, hiking and running
FAVORITE TV SHOW: Live sports
ON A SATURDAY AFTERNOON: Taking a walk in the woods with my wife Melissa and our dog Toby.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.