AXA XL, a Bermuda-based subsidiary of French re/insurer AXA, has introduced a local captive practice to in Canada.
Leading the new practice will be Alonso Tello, who was appointed as vice president of its captives and alternative solutions business.
The new service will look to meet the rising demand for captive and alternative risk transfer expertise in Canada, the company said.
As a global practice, our specialised background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from all industries and sectors"
Tello joins from Zurich in London where he was senior fronting manager for captive services. He has a decade of experience in the industry focusing on captive, integrated multiline multi-year, loss portfolio transfers, as well as large multinational property and casualty lines.
At AXA XL he provides technical support across business lines in structuring global captive programs, ensures global programs comply with regulations and follow best practices, and works helps develop new and innovative captive products.
AXA XL Canada CEO and country manager Urs Uhlmann said: "We are very excited to launch local captive capabilities in Canada.
"As a global practice, our specialised background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from all industries and sectors."
Commenting on Tello's appointment, Uhlmann said: "We are particularly excited to kick-off this new Canada-based practice with the leadership of a captive expert like Alonso.
"His vast experience in the space will be a great asset to our Canada-focused practice by combining his expertise in the international market with AXA XL's unparalleled global capabilities."
Axa XL announced last week that its Bermuda and London reinsurance platforms will be combined to create a global markets business focused on catastrophe, casualty and specialty lines led by Rob Littlemore, chief executive of its London reinsurance business.