AXA XL boosts subcontractor default insurance division with key promotions

They will play major roles in implementing best practices and strategy development

AXA XL boosts subcontractor default insurance division with key promotions

Construction & Engineering

By Mark Rosanes

AXA XL is bolstering its North American construction business with the promotion of three seasoned members of its subcontractor default insurance (SDI) division.

The insurance giant has elevated Cyrus Manekshaw and Ian Sadler to underwriting directors, and Cheri Hanes to SDI construction risk engineering manager.

In their new roles, Manekshaw and Sadler will be responsible for maintaining the underwriting profitability of AXA XL’s SDI business, including implementing best practices and strategy development, and maintaining key broker and client relationships.

Manekshaw has been part of the development and implementation of the firm’s SDI underwriting strategies since coming aboard in 2014. He also manages a team of underwriters and maintains underwriting responsibilities on key accounts in the US, Canada, and the UK. Prior to joining the company, he spent seven years as an attorney at a boutique firm in Dallas. 

Sadler, meanwhile, joined the SDI team in February 2016. He was promoted to underwriting manager almost two years later after quickly developing strong relationships with key brokers and customers and demonstrating his ability to tailor effective subcontractor default risk management solutions to meet customers’ needs. He spent 13 years practicing law before joining AXA XL.

“Since joining our SDI team, Cyrus and Ian have both exceled, applying their legal backgrounds, critical thinking, and analytical skills to help grow our SDI book of business and meet our clients’ subcontractor default needs head-on,” said Jim Richert, profit center leader at AXA XL’s SDI team. “Ian and Cyrus were already key contributors to our leadership team, and both are well-prepared for this next level of responsibility.”

In her new position, Hanes will manage a team of SDI risk engineers providing consultation and training and adopting best practices to help contractors minimize subcontractor default risk. She joined AXA XL in 2012 as a construction risk engineer, working with Yates Construction’s North Texas division in operations and sustainability management. Hanes is a construction risk insurance specialist (CRIS), LEED-accredited professional (LEED AP), and a Clemson University certified construction document specialist (CDS).

“Using her 25 years of industry experience in preconstruction, operations, and project management, Cheri has contributed tremendously to the development and build out of our core risk engineering services,” said Scott Merchant, head of AXA XL’s construction risk engineering team. “She’s well-respected, highly recognized for her industry thought leadership, and very deserving of this well-earned promotion.”

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