AXIS Capital has appointed Frank Romeo to lead its entry into the US marine cargo insurance market.
According to AXIS, the development of a marine cargo proposition tailored to the US market is part of the firm’s broader strategy to maximise its global footprint while providing increased value to its customers and the marketplace.
Romeo is a marine insurance professional with more than 15 years of underwriting experience across the US and multinational programs at major global carriers.
He joins AXIS from AIG, where he spent almost six years as a senior marine underwriting specialist and team lead.
In his new role, Romeo will be responsible for building the program and identifying growth opportunities, with a targeted product launch in the second half of 2023.
AXIS states that his focus will be on developing strong distribution relationships in the US domestic marketplace. He will also focus on building a diversified portfolio, initially targeting transit, stock throughput, and excess stock exposure risk.
Romeo is based in New York and reports to Helen Steadman, Head of Marine Cargo, Global Markets, who commented, “Since our inception in 2001, AXIS has been immersed in building specialist underwriting solutions for diverse and complex marine cargo risks globally.
“The appointment of an underwriter of Frank’s calibre and experience as our first dedicated US-based marine cargo specialist is a very exciting step.”
Mark Gregory, Head of Global Markets at AXIS, said, “We are excited about expanding into the marine cargo market in the US.
“This is part of our strategy at AXIS to explore new opportunities in lines of business and territories where we can add value for our customers and build profitable growth with distribution partners.”
