Reinsurance News

AXIS Capital Holdings

The world needs a new reinsurance industry that has more respect for its capital: Albert Benchimol

14th October 2022

The global reinsurance industry is undoubtedly a vital part of the risk value chain, but it needs to go back to basics and avoid the mistakes of the last five to 10 years, according to industry experts. Speaking yesterday on the final panel of the opening day of ILS Bermuda's 2022 ... Read the full article

AXIS launches dedicated wholesale division

8th September 2022

Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has established a new division dedicated to servicing the wholesale market, which will be led by Carlton Maner as Chief Executive Officer (CEO) of AXIS Wholesale. The new unit brings together AXIS teams and personnel alongside additional personnel dedicated to the Wholesale operation, ... Read the full article

AXIS promotes Dan Draper to CUO

6th September 2022

AXIS Capital Holdings (AXIS), has announced the promotion of Dan Draper from Group Head of Underwriting to Chief Underwriting Officer (CUO). Based in London, Draper will report to President and CEO Albert Benchimol and join the company’s executive committee. In his new role, Draper will guide the centralization of the company's underwriting ... Read the full article

AXIS reports $22mn fall in Q2 operating income

27th July 2022

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has reported operating income of $149 million for the second-quarter of 2022, down from $171 million in the prior year quarter. Net income for the quarter was $27 million, down from $228 million in the prior year quarter. Within the insurance segment, gross premiums ... Read the full article

AXIS combines health & corporate accident units

31st May 2022

AXIS Insurance – the specialty insurance segment of AXIS Capital Holdings Limited has announced that it is combining its corporate accident and supplemental health benefits business under the new name, AXIS Group Benefits. The AXIS Group Benefits business portfolio will be managed by the newly expanded team, which provides a dedicated ... Read the full article

“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