Reinsurance News
AXIS Capital Holdings
AXIS Insurance hires Daniel Stevens as Risk Engineer, Renewable Energy
16th April 2020
AXIS Insurance, the insurance arm of Bermuda-based AXIS Capital Holdings Limited, has announced the hiring of Daniel Stevens to the newly created role of Risk Engineer within its Renewable Energy team. In his new role, Stevens will work closely with the firm's Renewable Energy underwriters and also external parties involved in ... Read the full article
AXIS commits $1mn donation to support COVID-19 relief efforts
16th April 2020
Bermudian re/insurer AXIS Capital has announced a $1 million donation to support COVID-19 relief and community support efforts. The company will partner with non-profit organizations providing pandemic relief globally, as well as in communities in which AXIS operates. The donations are an extension of the AXIS Corporate Citizenship strategy, which focuses on ... Read the full article
Michael Carr to lead AXIS Insurance’s U.S. E&S Property unit
7th April 2020
AXIS Insurance, a division of Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited, has appointed Michael Carr as Head of U.S. Excess & Surplus (E&S) Property, based in the firm's Alpharetta, Georgia, office. In his new role, Carr takes responsibility for the development and execution of the company's E&S Property underwriting ... Read the full article
AXIS Re appoints TMR’s Mark Julian as Chief Pricing Actuary
7th April 2020
AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has announced that Mark Julian has joined from Tokio Millennium Re to serve in the newly created position of Chief Pricing Actuary, effective April 20th, 2020. In his new role, Julian will be responsible for the oversight of the reinsurer's new ... Read the full article
AXIS Co-Founder & Chairman Michael Butt to step down, successor named
26th February 2020
Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited has announced that co-founder and Chairman of the Board of Directors, Michael Butt, OBE, is to retire from the company and be succeeded by Henry B. Smith, effective September 16th, 2020. Butt is a recognised industry leader who played an important role in ... Read the full article
Many lines still lack price adequacy, but increases will persist: AXIS CEO
6th February 2020
Reinsurance price momentum continued at the January 1st, 2020 renewals but even with the strong rate response in certain classes, many lines are still not at attractive levels, according to Albert Benchimol, the President and Chief Executive Officer (CEO) of Bermuda-based re/insurer, AXIS Capital Holdings Limited. After consecutive heavy catastrophe loss ... Read the full article
Climate response requires new products & modelling techniques: Cavaciuti-Wishart, AXIS Capital
4th February 2020
A comprehensive response to the complex challenges posed by climate risk will require reinsurers to adapt business models, develop new products, and improve modelling techniques, according to Ellissa Cavaciuti-Wishart, Head of Cat Modelling – International at AXIS Capital. Faced with the unpredictability of climate-related impacts, reinsurers must develop ever more sophisticated, ... Read the full article
AXIS posts Q4 net loss, reinsurance segment falls to underwriting loss
30th January 2020
Bermudian re/insurer AXIS Capital Holdings Limited has reported a net loss of $10 million for the fourth-quarter of 2019 and a combined ratio of 107.3%, with the firm's reinsurance segment falling to an underwriting loss in both periods. The Q4 net loss compares with a net loss of $198 million in ... Read the full article
AXIS to report modest Q4 income amid catastrophes and Irma creep
21st January 2020
Bermuda domiciled insurer and reinsurer, AXIS Capital Holdings Limited, expects to report modest operating income for the fourth-quarter of 2019, driven in part by pre-tax catastrophe losses of $140 million. The firm's Q4 2019 results were impacted by a pre-tax loss for catastrophes and other weather-related events of $140 million, net ... Read the full article
AXIS Insurance adds two renewable energy underwriters
9th January 2020
The insurance business arm of Bermudian re/insurer AXIS Capital Holdings Limited, AXIS Insurance, has expanded its renewable energy underwriting expertise with two new hires. Specifically, Sam Walsh has joined the insurer as senior underwriter and Mat Pifer as an underwriter in AXIS Insurance's renewables division. In their new roles, both Walsh and ... Read the full article
AXIS Capital adds Anne Melissa Dowling to Board of Directors
10th December 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced that Anne Melissa Dowling has been appointed to its Board of Directors, effective January 1st, 2020. The re/insurer explains that Dowling will serve as a member of the Company's Audit, Corporate Governance and Nominating, and Finance Committees. She most recently served as ... Read the full article
AXIS announces Typhoon Hagibis loss of up to $110mn
26th November 2019
Bermudian insurer and reinsurer AXIS Capital Holdings Limited has announced a pre-tax loss estimate for Typhoon Hagibis of between $90 million and $110 million, net of recoveries from reinsurance and retrocession, and including the impact of reinstatement premiums. AXIS Capital states that its loss estimate is in line with industry insured ... Read the full article
AXIS Capital invests in health insurtech firm HealthCare.com
6th November 2019
Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has invested in health insurance-technology firm HealthCare.com. AXIS Capital participated in the insurtech’s Series B round of funding alongside CNO Financial Group and Second Alpha Partners, a New York-based private equity firm specialising in technology-enabled companies. The investment round brings HealthCare.com’s total capital ... Read the full article
More rate improvements ahead after market pain in 2019: AXIS CEO Benchimol
1st November 2019
AXIS Capital is anticipating ongoing insurance and reinsurance pricing increases into the 2019 renewals and beyond, according to its Chief Executive Officer (CEO), Albert Benchimol. Speaking during the firm’s third quarter earnings call, Benchimol explained that rates remain inadequate in many lines, and should be spurred on by the further “pain” ... Read the full article
Longer-term, growing in Japan is the right call, says AXIS CEO
1st November 2019
Despite 2019 being a highly active year for Japanese typhoons, AXIS Capital's decision to take advantage of improved market conditions and expand in the region remains the right call, according to the Bermudian re/insurer's Chief Executive Officer (CEO), Albert Benchimol. The insurer and reinsurer revealed in its second-quarter 2019 earnings call ... Read the full article
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