Reinsurance News

AXIS Capital Holdings

AXIS significantly expands in Japan under “quite attractive terms”

29th April 2019

Bermuda domiciled insurer and reinsurer, AXIS Capital significantly increased its exposure in Japan at the April 1st renewals, under "quite attractive terms." Speaking during the re/insurer's first-quarter 2019 earnings call, AXIS Capital President and Chief Executive Officer (CEO), Albert Benchimol, noted an "attractive Japanese market" at the most recent renewals, with ... Read the full article

AXIS results hit by Japanese typhoon loss creep & higher expenses

25th April 2019

Bermudian insurance and reinsurance group AXIS Capital has reported first-quarter 2019 results that were dented by $30 million of loss creep related to Japanese typhoons Jebi and Trami, as well as higher than expected expenses. AXIS Capital has reported net income of $98 million, or $1.16 per diluted common share, for ... Read the full article

Hottinger to succeed Ekberg as President of EMEA & LatAm, AXIS Re

15th April 2019

The reinsurance arm of Bermudian company AXIS Capital Holdings Limited, AXIS Re, has appointed Andy Hottinger as President of EMEA and LatAm, succeeding Jan Ekberg. Ekberg is leaving the company in July 2019 after a 45 year career in the insurance and reinsurance industry, 15 of which spent with AXIS. His replacement, ... Read the full article

Moody’s changes AXIS Capital’s ratings’ outlook to negative

4th April 2019

Moody's Investors Service has changed the ratings' outlook of AXIS Capital Holdings Limited from stable to negative, citing lower capitalisation and higher operating and financial leverage relative to peers. At the same time, Moody's has affirmed the ratings of AXIS Capital and its subsidiaries, including the Baa1 guaranteed senior debt of its ... Read the full article

A.M. Best stays negative on AXIS Capital despite improvements

18th March 2019

A.M. Best has maintained its negative outlook on the ratings of Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited, although it acknowledged that the company has taken steps to address its concerns during 2018. The rating agency also affirmed AXIS’ Long-Term Issue Credit Rating of ‘a-‘, as well as the ... Read the full article

Industry veteran Lizabeth Zlatkus joins AXIS Board of Directors

26th February 2019

Bermuda-based insurance and reinsurance firm, AXIS Capital Holdings Limited has added insurance industry veteran Lizabeth Zlatkus to its Board of Directors, effective March 15th 2019. In her new role, Zlatkus will serve as a member of AXIS' Audit and Finance Committees. The addition of Zlatkus takes the total number of AXIS ... Read the full article

AIG’s Robert Quane joins AXIS as Head of Underwriting & Portfolio Optimization

11th February 2019

AXIS Capital Holdings Limited has appointed Robert Quane to the newly created role of Head of Underwriting and Portfolio Optimization. In his new role, Quane will be responsible for leading the company's Group Underwriting function, while at the same time working in partnership with AXIS' business segments. Quane joins the firm from ... Read the full article

More price action required across most re/insurance lines: AXIS CEO Benchimol

1st February 2019

Price action in reinsurance lines was evident in some areas at the January renewals with little reductions and response to loss activity. However, global catastrophe pricing remained a disappointment for AXIS Capital at the recent renewal, with President and Chief Executive Officer (CEO), Albert Benchimol calling for more price action ... Read the full article

Attritional losses drive $198m Q4 net loss for AXIS

31st January 2019

Bermudian re/insurance group AXIS Capital Holdings has announced a $198 million net loss for the fourth quarter of 2018, driven by heavy attritional property and catastrophe activity. This $198 million Q4 net loss, with a 117.3% Combined Ratio (CR), compares to the $38 million net loss and 100.7% CR reported in ... Read the full article

AXIS Re names Jason Arbuckle Head of Underwriting, Canada

29th January 2019

AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has named Jason Arbuckle as Head of Underwriting for Canada. In his new role, Arbuckle will take responsibility for the Canadian office operations, which includes enhancing and expanding the reinsurer's Canadian market business, and both identifying and establishing new AXIS Re ... Read the full article

AXIS Capital appoints Keith Schlosser as Chief Information Officer

16th January 2019

Bermudian re/insurance group AXIS Capital Holdings has announced the appointment of Keith Schlosser as Chief Information Officer. Schlosser joins AXIS from Chubb, where he spent the previous seven years as Chief Information Officer for the company’s Overseas General Insurance division, leading a number of growth and digital initiatives. He has 30 years ... Read the full article

AXIS Capital names Govind Balu as Chief Analytics Officer

9th January 2019

Bermudian re/insurance group AXIS Capital Holdings has announced the appointment of Govind Balu as Chief Analytics Officer. Balu will be tasked with leading AXIS’ data and analytics initiatives globally, as well as the company’s Analytics Center of Excellence, which partners with teams across the organisation to apply digital solutions to AXIS’ ... Read the full article

AXIS Capital Chairman Michael Butt OBE inducted into Insurance Hall of Fame

3rd January 2019

Bermudian re/insurance group AXIS Capital Holdings has announced the induction of its Chairman, Michael Butt OBE, into the Insurance Hall of Fame by the International Insurance Society. Butt, who has also been named the 2019 Insurance Hall of Fame Laureate, is to be honoured at the IIS Global Insurance Forum’s Gala ... Read the full article

AXIS estimates up to $150m loss from California wildfires

20th December 2018

Bermudian re/insurance group AXIS Capital has announced a preliminary, pre-tax loss estimate for the California wildfires of between $125 million and $150 million, net of estimated recoveries from reinsurance and retrocessional covers and including the approximate impact of reinstatement premiums. AXIS states that this figure is derived from the $20 billion estimated ... Read the full article

Benchimol to continue as AXIS CEO for a further 5 years

12th December 2018

AXIS Capital Holdings has revealed that it has extended the employment term of its President and Chief Executive Officer (CEO), Albert Benchimol, for an additional five years. Benchimol was appointed as President and CEO of AXIS in May 2012 and has served as a director since January 2012. He joined the company ... Read the full article