Axa XL Insurance has appointed Rafael Docavo-Malvezzi as global chief underwriting officer for Political Risk, Credit & Bond and Lian Phua as head for PRCB, Americas.

Mr Docavo-Malvezzi, who is based in New York, will report to Stephen Ashwell, group chief underwriting officer for Specialty Risks.

As the new head of the Americas for PRCB, Ms Phua -- who is based in New York -- will lead the PRCB underwriting teams in New York, Washington, Toronto, and Bermuda.

She will report to both Alex Blanco, chief underwriting officer for Specialty, Americas and to Mr Docavo-Malvezzi.

Mr Ashwell said: "With more than 20 years working in the financial and insurance sectors, Rafael brings in-depth knowledge and first-hand experience across all areas of the business. From underwriting to risk analysis and client management, he is a true expert in the field and will be a strategic member of the GCUO Specialty Leadership team.“

The company said Mr Docavo-Malvezzi will drive global governance, underwriting guidelines and pricing standards across all political risk, credit and bond products. Additionally, he will lead and support the team in product development, innovation and client and broker engagement across all geographies and markets.

The company said Mr Docavo-Malvezzi has been at Axa XL for a decade during which he helped build and lead the global political risk and credit team. He most recently served as head of risk for Axa XL's PRCB business.

Previous roles include leadership at the risk practice at QBE, director of risk management at a boutique credit insurer and senior consultant at MasterCard Advisors.

Mr Blanco said: "It is wonderful to see talent promoted from within our ranks. Lian is an experienced underwriter who has also mastered client development and team management in different markets and countries.

“As part of the Americas Specialty leadership team, she will help us drive innovation to ensure Axa XL continues to be a partner of choice for a wide range of clients and brokers."

Ms Phua has been with Axa XL since 2013, when she joined as an underwriter for political risk and trade credit working in Singapore and the US. She most recently held the role of underwriting manager for Global PRCB, working with some of the company's largest clients across the financial and governmental sectors.

Axa XL said it underwrites PRCB coverages to large organisations on a global basis. This class includes political risk insurance, credit insurance covering the non-payment of debt obligations and providing commercial bonding requirements around the globe.