Reinsurance News

AXIS Capital Holdings

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

AXIS Insurance adds Senior Underwriters to Financial Institutions team in London

19th October 2021

AXIS Insurance, a division of Bermuda-based AXIS Capital Holdings Limited, has added Beth Convey, Julieta Moya, and Mark Sutton to its Financial Institutions team in London, effective immediately. The trio join the insurer as Senior Underwriters, reporting to Callum McPherson, Head of Financial Institutions in London. In their new roles, they will ... Read the full article

AXIS Capital estimates Q3 catastrophe losses of $250m

15th October 2021

AXIS Capital Holdings Limited, the Bermuda headquartered global specialty insurance and treaty reinsurance writer, has estimated that catastrophe losses from the third-quarter of 2021 will cost the company around $250 million, before tax ($219 million, after-tax). The main contributor to AXIS Capital's Q3 2021 catastrophe loss burden is, of course, hurricane ... Read the full article

AXIS Insurance reshuffles Capital Risk Solutions team

7th October 2021

AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has made three appointments within its Capital Risk Solutions (CRS) team. Jim Parker and Richard Jelf, both Senior Underwriters, will focus on growing the project finance and aircraft finance portfolio as well as strengthening existing relationships and driving business growth. Both ... Read the full article

Beazley names AXIS Capital’s Bob Quane CUO

24th September 2021

Specialist insurer Beazley has appointed Bob Quane to serve as its Chief Underwriting Officer (CUO), a role he brings 30 years' industry experience to. Quane joins from AXIS Capital, having served as CUO within its insurance segment. Based in New York, he starts October 11 and is also set to join Beazley’s Executive ... Read the full article

Positive conditions to persist, but industry behind curve on loss costs: AXIS CEO

29th July 2021

Albert Benchimol, President and Chief Executive Officer (CEO) of Bermuda-based AXIS Capital Holdings, expects positive re/insurance market conditions to persist well into 2022, but warns that the industry is yet to get to grips with its loss cost trends. AXIS' recently published Q2 results show that the firm continues to ... Read the full article

AXIS reports improved underwriting performance as CR strengthens

28th July 2021

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has announced a rise in net income for the second-quarter and first-half of 2021, to $228 million and $344 million, respectively. Supporting this growth in net income, the carrier has reported an improved underwriting performance across both its insurance and reinsurance operations for ... Read the full article