Influential Women in Captive Insurance: Marine Charbonnier

Marine Charbonnier, Head of captives & facultative underwriting, APAC & Europe, AXA XL

Marine Charbonnier leads AXA XL’s captives & facultative underwriting in Asia-Pacific & Europe and helps corporate clients identify and design complex structured solutions.

A seasoned alternative risk transfer expert, Charbonnier has 30 years of experience in the industry and has been with AXA since 2013 when she joined AXA Corporate Solutions (now AXA XL) as head of integrated solutions and alternative risk transfer.

She has been recognised several times as one of the 50 most influential figures in the international captive insurance market.

How did you get started in the captive insurance industry?

I have been working with captives for 30 years, helping companies set up and optimise the use of their risk financial tools. Why is it exciting? This is a very human business, and it is also very broad in terms of the risks.

I enjoy working closely with clients, to understand their needs, business strategies, insurance, tax, and finance. Each captive is different, with a different risk profile, risk appetite, and strategy.

Who inspired you or acted as a mentor in your career?

I love being creative in my role and I am passionate about working internationally and broadening my own horizons as well as those of my teams and our business. Working with stakeholders from diverse backgrounds, cultures and geographies makes things rich and interesting.

Being a role model for women is a great honour, and I hope that my experiences can encourage other women to forge successful careers. I don’t, however, believe that it is healthy or helpful for women in senior roles to take on male behaviours in order to succeed.

What do you think deters people from entering the world of captives?

I passionately believe that the captives industry needs to attract and develop the next generation of talent, and demonstrate the value captive insurance can bring to the wider society. There is a kind of “magic” in the industry given the broad perspective and options it provides on the management of risk. The equally broad career opportunities are huge and I encourage young and diverse insurance professionals to look at this sector.

Education is key. I enjoy developing talented individuals and I am engaged in training and mentoring at various levels of our ecosystem. One of my greatest honours is to work with the risk management association AMRAE and Paris Dauphine University to deliver captives-specific training in France. 

“Building a successful captive team is not simply about recruiting people with the right technical skills.”

How can mentorship and sponsorship programmes be designed to better support the career development of women?

Mentors and role models show the importance of networks, of allyship and of building confidence through learning from those around you—at all levels of the organization.

I greatly enjoy—and feel personal benefit from—mentoring other women from different backgrounds. In the course of my career, although I don’t believe I was ever held back because of my gender, I have faced bias, like many women, and I find it hugely rewarding to be able to share my experience, and help other women to talk through issues and overcome obstacles.

I applaud the efforts AXA is making to ensure that we have access to training and development opportunities and the ability to network.

In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?

Companies need to create an environment where colleagues can bring their whole selves to work. Building a successful captive team is not simply about recruiting people with the right technical skills but also professionals with the right temperament for the role.

In a sensitive and important area like a captive, I believe human characteristics such as empathy and a natural curiosity are vital. It is with this in mind that I recruit and develop my teams.

I recognise the importance of empowering captive insurance professionals to make decisions. Equipping them with the interpersonal skills and confidence to help clients is one of the cornerstones of success.

Finally, it is vital to empower teams to grow their expertise and develop career paths.

What challenges are gender-specific to women in the captives industry?

Over the course of my career so far, we have seen great strides towards gender parity—but there is still some way to go. I urge all my colleagues, whatever their gender, to reflect on the steps they can take to improve the representation of women in our business.

What solutions would you like to see?

It starts with ensuring we create a safe environment, where women can get access to the opportunities they aspire to, and where they can ensure their professional ambitions become a reality—a framework where people do not anticipate concerns, fears or limitations; but on the contrary share opportunities transparently, support, and benevolently challenge for growth.

We need an environment where training, development opportunities, feedback, and mentoring are easily available and accessible, so aspirations can take shape and mature. An environment, in fact, that everyone deserves, based on genuine meritocracy.

What are your ambitions?

Improving diversity, equality and inclusion is a key goal for me. Having a more diverse workforce makes us a stronger team, more creative and dynamic and means we can better understand and respond to the needs of our clients, wherever they may be and whomever they are.

I relish the opportunities provided by developing talented individuals, delivering captive-specific training, and educating captive insurance professionals. As the captives market evolves, I’m excited about what the coming months will bring, and also about the ways in which we can continue to set an example to, and create opportunities for, young women in our industry.

I hope my expertise can benefit to future generations and I will continue to show them that with ambition, hard work, creativity and integrity, you can forge an exciting, dynamic and fulfilling career in this industry.

Click here to read Captive International’s first Influential Women in Captive Insurance publication, celebrating the women transforming the captive sector through their sustained excellence and leadership.

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