Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has hired Steve Arora from Swiss Re to become the new Chief Executive Officer of AXIS Re.
Jan Ekberg has been interim CEO of AXIS Re since Jay Nichols stepped down from the role earlier this year.
Arora has been hired from reinsurance giant Swiss Re, having spent 18 years in a variety of senior positions at the company. His most recent position at Swiss Re was as Head of Casualty Reinsurance and he held a position on the Reinsurance Executive Committee.
Arora will now lead AXIS Capital’s $2.2 billion global reinsurance business and will also, take a position in the AXIS Executive Committee where he will report directly to President and Chief Executive Officer Albert Benchimol.
“Steve is a remarkable talent and an accomplished and widely respected executive who stands at the forefront of an emerging generation of senior leaders in our profession,” commented Benchimol. “He is perfectly suited to be CEO of AXIS Re, bringing breadth and depth of experience on a global scale and a client-centric mentality that matches our culture.”
Interim AXIS Re CEO Jan Ekberg will now resume his previous role as President and Chief Underwriting Officer of AXIS Re Europe, once Arora comes onboard in January 2018.
Benchimol added; “On behalf of AXIS, I must express my deep appreciation to Jan for his strong and steady oversight of our reinsurance business during the interim period. Jan’s leadership has and will continue to be integral as we further establish a strong foundation for growth in our key sectors.”
“I am very excited to join AXIS. I am impressed with the strong team and company culture, and the value proposition which combines the agility of a mid-sized company with the sophistication of a global player,” Arora said. “This combination leads to a unique competitive advantage, which I am confident will translate to increased relevance and long-term profitable growth.”
Arora has held positions in New York, Munich, London, Tokyo and Zurich during his career, working in roles including Finance, Risk Management, Underwriting, Sales, and General Management. As well as leading casualty reinsurance at Swiss Re, Arora has also held the roles of President of Swiss Re Japan, as Managing Director to some of its largest Global Clients, and as Head of the Engineering & Construction business across the Americas.
