Raphael Borrel is the ex-chief risk officer of Axa XL-owned intermediary XL Catlin Services

Insurer CNA Hardy has hired the ex-chief risk officer of Axa XL-owned intermediary XL Catlin Services, Raphael Borrel, as its new director of risks.

Borrel will be responsible for developing the risk strategy and framework at CNA Hardy, as well as providing leadership to the risk function. 

He will be based in London and report to chief actuary and risk officer Carl Kearney.

Kearney said: “Effective management of risk and volatility is central to CNA Hardy’s growth and strategic ambitions.”

Driving risk management

Borrel has 25 years of experience in risk management and compliance. His stint at his most recent employer, Axa XL, spanned more than four years since May 2018. 

He held several other senior roles – including Axa XL’s head of information and integration support pre- and post-acquisition of XL Catlin by Axa.

Kearney added: “We are delighted to have someone of Borrel’s seniority and breadth of experience join our organisation to help us drive our risk management proposition and future success.” 

Between March 2013 and May 2018, Borrel took the helm as managing director at Insurance Strategy Perspectives.

He has also been the head of insurance solutions for risk management, finance and compliance consultancy Avantage Reply.

Other previous senior roles include senior consultant at Accenture for just over a year between 2005 and 2006, senior manager at Deloitte for nearly three years, as well as senior manager at Ernst and Young for nearly a year.

Initially Borrell began working as a consultant for Aon in February 2002 and stayed for nearly two and a half years.