Reinsurance News

Former AXA XL duo gain approval to launch ANT Exceptional Risks

1st October 2021 - Author: Matt Sheehan

Former AXA XL executive Jonathan Beck and underwriter Richard Spurrier have received regulatory consent to launch a new Specialty Insurance Cell – ANT Exceptional Risks.

Domiciled in Guernsey, the cell will initially focus on Fine Art, Jewellery and Classic Car exposures.

“We’ve worked closely with our reinsurance partners over the last few months, and it’s testament to the support they have shown to us that we will be able to deploy a maximum line size of USD 120,000,000 across our Fine Art portfolio,” said Beck.

“There is a real need for our capacity which can be deployed in an adequately priced rating environment,” he added.

Beck previously served as Executive Chairman of AXA XL Services and XL Insurance Guernsey Limited and responsible for the establishment of the first AXA ILS vehicle in Guernsey.

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He worked for AXA XL from 2014, prior to which he spent time with CNA Hardy, QBE and Hiscox spanning back to 1999.

Spurrier, meanwhile was a Specialty Risks Underwriter for XL Insurance Guernsey Limited, focussing on Kidnap & Ransom and Fine Art risks.

Prior to this, he worked for Artex (Arthur J Gallagher) on the Captive Market team supporting Hiscox Crisis Management. In addition, he has broad experience structuring Alternative Capital Vehicles for various firms.

The launch of ANT Exceptional Risks was first announced back in June 2021.

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