Reinsurance News

AXIS Capital Holdings

“Absolutely crucial” to sustain pricing discipline: AXIS CEO Benchimol

10th May 2022

Albert Benchimol, President and CEO of AXIS Capital Holdings, has asserted that it is “absolutely crucial” that insurers continue to sustain pricing discipline in order to deliver an adequate return on capital and fulfil its role as “a safety net for the free markets.” Speaking during a Q1 earnings call, Benchimol ... Read the full article

AXIS launches portfolio underwriting arm, names leader

5th May 2022

Bermuda-based AXIS Capital Holdings (AXIS Capital), has announced that it has launched a portfolio underwriting unit that targets multi-class portfolio business that is placed in the London specialty insurance market. Christine Cook will be leading the unit, who joins AXIS in the newly created role of Head of Portfolio Underwriting in ... Read the full article

AXIS Capital’s underwriting result improves as catastrophe retreat continues

28th April 2022

Bermuda-based AXIS Capital Holdings Limited has reported an improved combined ratio of 91.4% for the first quarter of 2022, as both its insurance and reinsurance segments recorded a better underwriting result in the period. Across the group, underwriting income spiked from $40.3 million in Q1 2021 to $138.8 million in Q1 ... Read the full article

AXIS Capital appoints Fintan Mullarkey as CEO of AXIS Specialty Europe

31st March 2022

AXIS Capital has appointed Fintan Mullarkey as CEO of AXIS Specialty Europe SE (ASE). The firm said that the appointment was still pending due to regulatory approval but once confirmed, Mullarkey would be responsible for ASE and the legal entity aspects of its branches. Mullarkey will also join the Board of ... Read the full article

AXIS Capital promotes senior analyst to Ceded Re treaty manager

14th March 2022

AXIS Capital has promoted Buddhima Mendis to be Ceded Re Treaty Manager. Mendis will begin her new role immediately. She is currnetly based in New York. In a social media post, AXIS Capital said: “With over 15 years of experience in reinsurance, Buddhima will be responsible for managing all phases of the reinsurance ... Read the full article

AXIS hopeful upward rate momentum will continue: Ann Haugh

21st February 2022

After a late January 1st, 2022, reinsurance renewals season with evident disruption, Bermuda-based AXIS Capital Holdings Limited feels that some of the positives suggest a continuation of the current rate and market environment, according to Ann Haugh, the firm's President of Global Property Reinsurance. Executives from global insurer ... Read the full article

AXIS cut reinsurance property & cat premiums by 45% at 1/1

27th January 2022

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, further reduced the volatility of its portfolio at the Jan 1, 2022, renewals, cutting its reinsurance property and property catastrophe premiums by 45%. The company's President and Chief Executive Officer (CEO), Albert Benchimol, confirmed on a recent earnings call that AXIS advanced its ... Read the full article

AXIS reports improved underwriting performance across re/insurance in 2021

27th January 2022

Bermuda domiciled AXIS Capital Holdings Limited has returned to underwriting profit in the fourth quarter of 2021 and for the full-year, driven by an improved result in both its insurance and reinsurance business. Across the business, AXIS has reported a combined ratio of 93.1% for Q4 and 97.5% for the full-year ... Read the full article

Net premiums rise for reinsurers in Bermuda

20th January 2022

The net premiums written for a group of eight reinsurers based in Bermuda rose by 18.1% through 9m21. The figure was supplied by Fitch in one of its latest reports. The company suggested that the growth was driven by rate increases, plus growth in casualty and specialty writings. Among the eight reinsurers—Arch ... Read the full article

AXIS Insurance names The Hartford’s Vincent Tizzio as future CEO

5th January 2022

The primary insurance arm of Bermuda-based AXIS Capital Holdings Limited has announced that its Chief Executive Officer (CEO), Peter Wilson, will leave his role at the end of the year and be succeeded by Vincent Tizzio. Wilson's departure is timed to the completion of his contract with AXIS, with Tizzio set ... Read the full article

AXIS Capital promotes Helen O’Sullivan to Global Treasurer

21st December 2021

AXIS Capital Holdings has appointed Helen O’Sullivan to Global Treasurer of AXIS, where she will report to Peter Vogt, Group Chief Financial Officer and work from Dublin, Ireland. In this role, O’Sullivan will be responsible for overall capital, foreign currency, cash and liquidity management, as well as managing rating agency relationships ... Read the full article

Re/insurers shift focus as renewal activity stalls, say analysts

24th November 2021

As insurers and reinsurers shift focus ahead of the key January 1st, 2022 renewals, there's uncertainties around the property catastrophe space while activity for 1/1 is reportedly behind schedule, according to Morgan Stanley. Analysts at Morgan Stanley recently hosted the firm's insurance corporate access day, which featured nine property and casualty ... Read the full article

AXIS adds Patrick Witteveen and Kyle Freeman to ILS operation

12th November 2021

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has bolstered its insurance-linked securities (ILS) team with the additions of Patrick Witteveen and Kyle Freeman as Head of ILS Business Development and Head of ILS Structuring, Property, respectively. AXIS Capital rebranded its ILS and third-party reinsurance capital arm to AXIS ILS ... Read the full article

AXIS returns to profit in Q3 despite reinsurance underwriting loss

28th October 2021

Bermuda-based AXIS Capital Holdings Limited has reported net income of $47 million for the third quarter of 2021, despite its re/insurance operations falling to an underwriting loss in the period. AXIS has returned to profit in both the third quarter and first nine months of 2021, when compared with a net ... Read the full article

AXIS updates fossil fuel underwriting & investment policy

20th October 2021

AXIS Capital Holdings Limited, the Bermuda headquartered global specialty insurance and treaty reinsurance writer, has announced several new updates to its fossil fuel underwriting and investment policy. In particular, the company has bolstered its existing policy by committing to phasing out thermal coal business from its insurance, facultative reinsurance, and investment ... Read the full article