AXA XL has brought in Caroline Tran to lead its political risk, credit and bond (PRCB) insurance business in Europe, a newly created position for the global re/insurer.

Tran joins AXA XL from Atradius, where she had been for the last 12 years, most recently as deputy head of special products and product leader for structured single situations and political risks. She started her career with Coface in Shanghai in 2004 and, a year later, became a country risk analyst and a political risk underwriter for Unistrat Coface in Paris.

In her new role, based in Paris, Tran is responsible for developing the underwriting strategy for Europe and overseeing its implementation, working closely with AXA XL’s local PRCB underwriters and distribution teams. She is also responsible for the company’s PRCB portfolio in France.

Tran reports to Yannick Daucourt, AXA XL’s head of specialty for Asia Pacific and Europe, and Dan Riordan, global chief underwriting officer, PRCB.

“With foreign trade accounting for over a third of the European Union’s gross domestic product, many European companies are by nature outward-oriented. As such, these [firms] require expert solutions to understand and manage the risks associated with trading overseas. And with increasing political tensions, both globally and close to home, we are seeing increased demand from these organisations,” says Daucourt.

“We are delighted that Caroline has joined the team to help our Europe-based clients to tackle these complex risks,” he adds.