AXA XL is launching a local captive practice in Canada, and has appointed a leader for the business.
Alonso Y. Tello has been chosen to serve as vice-president of the captives and alternative solutions business in the country. Tello will oversee the continued growth of AXA XL’s captive business in Canada, providing technical support across business lines in structuring global captive programs. He will also ensure global programs are in compliance and following best practices, and will work with AXA XL’s clients and broking partners to create new captive products.
Tello joins AXA from Zurich, where he was most recently a senior fronting manager of the company’s captive services and alternative risk transfer, focusing on commercial insurance in the UK. He joined Zurich in 2011, and served in various roles including senior underwriter of alternative risk transfer, liability claims specialist and associate.
In addition, he holds a degree in legal studies with a specialization in financial regulation from the University of Waterloo. Tello also possesses the Certified Risk Management (CRM) and Chartered Insurance Professional (CPI) designations from the University of Toronto and the Insurance Institute of Canada, respectively.
“We are very excited to launch local captive capabilities in Canada. As a global practice, our specialized background will lead our growing business in the country while continuing to strengthen existing relationships with clients and brokers from all industries and sectors,” said AXA XL CEO and Canada country manager Urs Uhlmann.
Uhlmann added that AXA XL is excited to launch a captive practice under the guidance of an expert like Tello.
“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,” he said.