AXA XL has announced two senior promotions within its US casualty operation, naming Nick Goepp as head of West, Excess Casualty, and Lexi Buena as head of Central, US Risk Management (USRM).
Both report to Matthew Stitham, who became chief underwriting officer (CUO), Casualty for AXA XL’s Americas region in January 2026.
Stitham said casualty insurance remains critical to protecting clients’ businesses in today’s risk environment and highlighted Goepp and Bueno’s underwriting skills and focus on understanding clients’ casualty needs as key factors in their progression. He said their careers show how technical talent, combined with consistent delivery for clients, can reinforce AXA XL’s position in the casualty market.
Based in San Francisco, Goepp steps into the role previously held by Stitham. He has been a key member of the Excess Casualty West team since 2018 and brings more than a decade of underwriting experience across construction, energy, real estate and broader casualty risks. His appointment provides continuity in a book that includes complex lead and high‑excess placements for large corporate buyers on the U.S. West Coast, a region heavily exposed to social inflation, large liability verdicts and significant construction‑related losses.
Bueno, who is based in Chicago, will lead the Central USRM team. During her five‑year tenure at AXA XL, she has progressed from underwriter to team leader. She began her insurance career in client management and account servicing, giving her a broad grounding in client needs and program structuring before moving into underwriting. That combination of front‑line client experience and technical casualty expertise is expected to be particularly relevant in the Central region, where USRM focuses on tailored programs for large and upper mid‑market corporates.
The promotions form part of a broader reshaping of AXA XL’s casualty leadership. Stitham’s move to CUO, Casualty for the Americas in January saw him assume regional underwriting responsibilities previously held by Donnacha Smyth, who was promoted in late 2025 to Global Chief Underwriting Officer, Casualty. Stitham had served as Head of West Excess and Head of Excess Casualty, having joined an AXA XL predecessor in 2007 after roles with Zurich and Travelers.
Casualty is a core franchise for AXA XL. Before AXA’s 2018 acquisition of XL Group, casualty accounted for roughly a third of the company’s gross insurance premiums, alongside professional, energy and other specialty lines. AXA has since positioned AXA XL as its primary global P&C commercial platform, with a strong footprint in large and specialty risks in North America and Europe.
At group level, AXA reported 7% revenue growth in the first nine months of 2025, with P&C commercial lines up 4%, supported by higher volumes and continued price increases, particularly at AXA XL. The group’s earnings updates have repeatedly pointed to improved underwriting results in commercial lines, indicating that casualty remains an important driver of profitability as well as top‑line growth.
The leadership moves underline AXA XL’s commitment to building a deep bench of casualty leaders in the Americas. Smyth’s move to the global CUO role, followed by Stitham’s promotion and now the elevation of Goepp and Bueno, reflects a deliberate internal succession strategy that keeps experienced underwriters in charge of key portfolios rather than rotating in generalist managers.
The appointments also come against a backdrop of ongoing pressure in U.S. casualty. Insurers continue to grapple with social inflation, higher jury awards, wage and medical cost inflation, and emerging liability exposures, particularly in sectors such as construction, energy and large corporate risk management — all areas where AXA XL is a significant market. Having dedicated regional leadership in San Francisco and Chicago is expected to help AXA XL maintain underwriting discipline on pricing and terms, while remaining responsive to complex program structures and layered towers that rely heavily on excess capacity.
The changes offer continuity and clear escalation points in two important regional hubs. Goepp will be central to excess casualty appetite, attachment strategy and line sizing on the West Coast, while Bueno will shape USRM’s response to large‑account risk management needs in the Central region. In a casualty market where rate momentum has moderated but large‑loss severity remains elevated, their leadership will be closely watched for signals on AXA XL’s stance on rates, limits and risk selection in the next phase of the cycle.
