AXIS Insurance – an AXIS Capital Holdings division – has revealed the appointment of chief claims officer Michael Baumel.
Baumel succeeds David Hayward, who will retire in March 2020. Following a six-month transition period, Baumel will assume the chief claims officer role and join the company’s leadership team, reporting directly to AXIS Insurance CEO Peter Wilson.
Baumel has been with AXIS for over four years, serving as head of North American claims and working directly with Hayward. He has held several leadership roles in claims and underwriting, in both the US and in Europe, including as senior vice-president of excess casualty claims at ACE and multiple claims vice-president positions at CNA. Baumel began his insurance career at GE in 1999, initially serving as a global claims special services leader and prior to joining the insurance industry he practiced law in Chicago for 10 years – mostly as a public prosecutor. He graduated from DePaul College of Law in 1989.
Hayward retires from AXIS Insurance after a career that spans more than 30 years – 17 of which were spent with AXIS. A release said that Hayward was instrumental in creating the company’s critically acclaimed global claims management function.
“Dave’s contributions to AXIS cannot be understated. He has played a fundamental role in shaping our claims management strategy and he conceptualised and implemented many of the approaches that have helped us establish a claims function that is widely recognised as one of the best in the specialty insurance industry,” said AXIS Insurance CEO Peter Wilson.
In a statement, Hayward mentioned that while his retirement is a bittersweet moment for him, he departs knowing that he is leaving his position in Baumel’s capable hands.
“We have a tremendous claims team, and I take great pride in the work that we’ve done to build a leading claims function. I look forward to seeing the practice continue to flourish under Mike’s leadership,” he said.