Insurer and reinsurer AXIS Capital Holdings Limited has announced the formation of AXIS Specialty Underwriters Inc. in Miami (AXIS Miami), which will operate within the firm’s international insurance division and provide the Latin America and Caribbean (LAC) markets with direct and facultative reinsurance cover.
AXIS Miami will operate as the re/insurer’s LAC regional coverholder for AXIS Syndicate 1686, and combined with the company’s treaty business in Brazil provides the firm with the ability to offer a full range of treaty and facultative reinsurance services across the LAC region. Furthermore, the re/insurer explains that AXIS Re Brazil’s Sao Paulo representative office will continue to provide treaty reinsurance business across the LAC region, under the direction of AXIS Re Zurich.
“The launch of AXIS Miami is a significant milestone in our global strategy to provide leading specialty risk solutions in every region in which our clients operate,” said Mark Gregory, Chief Executive Officer (CEO) of AXIS Insurance’s International Division.
Previously of Marsh, Latin America insurance and reinsurance industry veteran Eduardo Hussey has been appointed to lead AXIS Miami, as Chief Underwriting Officer (CUO), Latin America and Caribbean.
“In Eddie Hussey, we’ve added a proven market expert who will help enhance the services that we offer to our clients while growing our global underwriting platform in the Latin American and Caribbean market,” said Gregory.
Discussing his new position, Hussey said; “I’m pleased to join such a highly respected specialty underwriting firm as AXIS. Working alongside our colleagues at AXIS Syndicate 1686, AXIS Miami will bring us closer to our clients in the LAC region to provide them with enhanced services and high-quality facultative reinsurance solutions.”