Bermudian re/insurer AXIS Capital has appointed Mark McCormick as Chief Executive Officer of AXIS Re SE (ARe).
ARe is AXIS Capital’s reinsurance legal entity domiciled in Ireland and regulated by the Central Bank of Ireland, with a Zurich branch.
McCormick will be responsible for ARe and the legal entity aspects of its Zurich branch.
He also joins the Board of Directors of AXIS Specialty Europe SE (“ASE”) as a Non-Executive Director.
Most recently, McCormick was Co-Head of Specialty Pricing for AXIS Re, where helped to develop and oversee the business segment’s specialty reinsurance pricing unit.
In addition to his role as CEO of ARe, he will continue to provide support and advice to AXIS Re in relation to actuarial pricing matters for its Aviation, Marine and Agriculture lines of business.
Previously, he managed all non-US actuarial pricing for AXIS Accident & Health from 2010 until that business was merged into AXIS Capital’s insurance and reinsurance business segments in 2018.
McCormick succeeds Helen O’Sullivan, who will remain CEO and a Director of ASE. O’Sullivan will also continue to serve as a Director of ARe.
“Mark brings extensive experience in the global reinsurance industry, as well as the composure and business acumen that is necessary to manage a highly regulated legal entity such as AXIS Re SE,” said Megan Thomas, Chief Underwriting Officer of AXIS Re, the reinsurance business segment of AXIS Capital.
“He has been with AXIS for 10 years and possesses a deep understanding of our organization and operations.”