Reinsurance News
AXIS Capital Holdings
“Disappointing quarter” sees AXIS Capital’s combined ratio weaken to 109.4%
30th October 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited has reported net income of $28 million and an operating loss of $33 million for the third-quarter of 2019, as catastrophe, credit and aviation line losses pushed the firm's combined ratio to 109.4%. The re/insurer's Q3 2019 results include pre-tax weather-related losses, net ... Read the full article
AXIS to limit thermal coal, oil sands underwriting & investments
16th October 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced a new policy which addresses the firm's underwriting of, and investments in, thermal coal and oil sands-related business. Amid ongoing global pressure to mitigate the impacts of climate risks and transition to a low-carbon economy, numerous insurers and reinsurers have taken ... Read the full article
AXIS Capital pegs Q3 cat losses at up to $175mn, exceeding forecasts
11th October 2019
Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has estimated that it will incur between $150 million and $175 million of catastrophe losses in the third quarter of 2019. The preliminary pre-tax estimates relate to losses stemming from Hurricane Dorian, Japanese typhoons, and other weather related events. Notably, this loss range ... Read the full article
AXIS Capital withdraws support for Australia’s Carmichael mine, sources report
3rd October 2019
Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has dropped its bid to provide coverage for the controversial Carmichael coal mine project in Australia, according to sources at Reuters. The publication said that sources close to the company confirmed that AXIS had withdrawn its quotes for insurance of the mine’s ... Read the full article
AXIS Capital appoints Martin McCarty as Global Treasurer
30th September 2019
AXIS Capital Holdings Limited has announced the appointment of Martin McCarty to the position of Global Treasurer. In this role, McCarty will be responsible for overall capital, foreign currency, cash and liquidity management, as well as coordination with ratings agencies on behalf of AXIS Capital. Additionally, he will be tasked with providing ... Read the full article
Global reinsurance sector needs global corrections, says AXIS Re CEO, Arora
11th September 2019
Overall, current rate increases are not sustainable and the reinsurance market needs to correct itself on a global basis, says Steve Arora, Chief Executive Officer (CEO) of AXIS Re. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Arora, CEO of the reinsurance arm of ... Read the full article
AXA XL’s Gino Smith joins AXIS Re as Head of Property, EMEA LatAm
14th August 2019
Gino Smith has joined AXIS Re, the reinsurance arm of Bermuda's AXIS Capital Holdings Limited, as Head of Property for EMEA LatAm, effective November 2019. In his new role he will be based in Zurich and will report to President of EMEA LatAm, Andy Hottinger. Smith will take oversight of the reinsurer's ... Read the full article
Price action to persist in an “underwriters’ market,” says AXIS CEO Benchimol
6th August 2019
The President and Chief Executive Officer (CEO) of AXIS Capital Holdings Limited, Albert Benchimol, has said that current earnings will be crucial in what is still not a hard market, but an underwriters' market. In light of more pronounced rate increases at the June and July renewals, insurance and reinsurance company ... Read the full article
Swiss Re’s Jason Busti joins AXIS Re as President of North America
1st August 2019
Bermuda domiciled re/insurer AXIS Capital Holdings Limited has announced that Jason Busti has joined its reinsurance arm, AXIS Re as President of North America, based in New York. He joins the firm after 22 years with reinsurance giant Swiss Re, and in his new role, will be a member of the ... Read the full article
AXIS reports reinsurance growth, higher net income in Q2
31st July 2019
AXIS Capital Holdings Limited has reported higher net income for the second-quarter of 2019 when compared with the prior year, while its underwriting income fell to $78.7 million, resulting in a combined ratio of 96.1%. Bermudian insurer and reinsurer AXIS Capital's combined ratio improved by 3% in Q2 2019 when compared ... Read the full article
AXIS expands capital markets reinsurance support with $39m Alturas Re sidecar issuance
2nd July 2019
Bermudian insurer and reinsurer AXIS Capital Holdings Limited has sponsored a $39 million issuance of notes to its collateralised reinsurance sidecar, Alturas Re Ltd. The latest issuance is the third of this year and takes the total amount of capital backing the sidecar vehicle to $169 million for 2019. As reported by ... Read the full article
Vibe’s Joe Sweeting to lead AXIS Re’s Lloyd’s Casualty Reinsurance
12th June 2019
The reinsurance arm of AXIS Capital Holdings Limited, AXIS Re has announced that Joe Sweeting has joined the firm as Head of Lloyd's Casualty Reinsurance. In his new role, Sweeting will take responsibility for managing all aspects of the reinsurer's casualty operation at the specialist Lloyd's of London insurance and reinsurance marketplace. ... Read the full article
RenRe’s Isikoff joins AXIS Capital as Chief Information Security Officer
28th May 2019
Kelly Isikoff has joined AXIS Capital Holdings from RenaissanceRe as the firm's new Chief Information Security Officer (CISO), reporting to Global Chief Information Officer (CIO), Keith Schlosser. Based in the firm's New York office, Isikoff will take responsibility for the oversight of AXIS Capital's enterprise-wide information security strategies, as well as collaborating with ... Read the full article
AXIS partners with cyber startup accelerator CyLon
14th May 2019
Bermuda-based insurance and reinsurance firm AXIS Capital Holdings has announced a new partnership with cyber security startup accelerator CyLon. The partnership, which aims to inform and educate cyber security startups on the threats and opportunities unique to the space, will see the two firms work together with startups entering the CyLon ... Read the full article
Chubb’s Tony Jordan joins AXIS Capital as Group Chief Actuary
2nd May 2019
AXIS Capital Holdings Limited has appointed global re/insurer Chubb's Tony Jordan as its new Group Chief Actuary, reporting to Peter Vogt, AXIS Capital's Group Chief Financial Officer (CFO). Based in the firm's London office, Jordan will be responsible for overseeing AXIS Capital's corporate actuarial function, which includes reserving functions, capital modelling ... Read the full article
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