AXA XL has appointed Donnacha Smyth as its new global chief underwriting officer (CUO) for casualty, effective November 3. Currently serving as head of casualty for the Americas, Smyth will relocate from Bermuda to Ireland in 2026 as he transitions into the global role.
In his new position, Smyth will collaborate with regional CUOs to drive profitable growth, strengthen portfolio consistency, and expand AXA XL’s casualty offerings. He will also oversee underwriter development, with a focus on technical training, compliance, and maintaining high underwriting standards.
With more than three decades of industry experience, Smyth has been with AXA XL since 2007. Since 2018, he has led the Americas casualty team, managing primary and excess risk, multinational group captives, rail, and eight underwriting teams across the US and Bermuda. He will continue to oversee the Americas casualty portfolio until a successor is appointed.
Market Context
Smyth steps into the global role amid ongoing challenges in the casualty market, including social inflation, litigation financing, and an expanding range of liability risks such as cyber and environmental exposures. Insurers are balancing disciplined underwriting and rate adequacy with client demand for broader capacity and tailored solutions for complex corporate risks.
Under Smyth’s leadership, AXA XL is expected to maintain a strong focus on portfolio discipline, targeted product development, and enhanced underwriter capabilities to manage volatility and protect margins. The company may also expand its risk engineering and loss prevention services to support pricing strategies and strengthen client retention.
Industry Landscape
Competitors across the global casualty market are adopting similar strategies, with carriers refining multinational program structures, adjusting excess and umbrella appetites, and investing heavily in data and analytics for improved risk selection. Some insurers are shifting capital toward specialty and alternative lines, while others are bolstering professional and financial lines to mitigate pressure in traditional casualty classes.
Brokers and risk managers are likely to see continued emphasis on capacity negotiations and program structuring, with insurers requiring stronger demonstrations of risk mitigation and governance to secure favorable terms. At the same time, reinsurers’ stance on litigation-driven exposures and large casualty accumulations will play a critical role in shaping how primary carriers set portfolio limits and define product terms.
With a strong background in excess liability and talent development, Smyth is well positioned to steer AXA XL’s global strategy in response to these evolving market dynamics, ensuring alignment of regional practices with a unified global approach.
