Vincent C. Tizzio has been named future Chief Executive Officer (CEO) of AXIS as Albert A. Benchimol, the company’s current CEO, is to retire following a re/insurance and banking career that has spanned over four decades.
After spending ten years as President and CEO of AXIS Benchimol will step down from his role on May 4, 2023, timed to the Company’s Annual General Meeting (AGM), and will retire at the end of 2023.
He will be succeeded by Tizzio, who currently serves as CEO, Specialty Insurance and Reinsurance, overseeing all business lines and front-end operations for AXIS.
According to the announcement, Benchimol will continue with AXIS through year-end as a strategic advisor to the company. In the months ahead, Benchimol and Tizzio will partner to ensure a smooth leadership transition.
Henry Smith, Chair of the AXIS Board of Directors, commented: “We are indebted to Albert for his leadership, which has spanned more than a decade. Under Albert’s direction, AXIS has had a remarkable transformation, refocusing itself as a specialty leader while building a balanced and resilient portfolio and placing the Company on a pathway for lasting profitable growth.”
He added: “Albert has also been a great culture leader, growing a workplace environment that is both performance and people-oriented, and under his guidance, AXIS has become a best place to work in the industry. Underpinning all of this is a customer-service mindset that permeates every aspect of the Company’s operations, resulting in strong and enduring bonds with brokers and customers – a testament to Albert’s legacy.”
Benchimol said: “Serving as President and CEO of AXIS has been the most fulfilling and rewarding experience of my professional career. I’m grateful to my fellow colleagues – past and present – for their support, commitment, and dedication, and I’m incredibly proud of what we’ve accomplished together.
“Even with all the progress that’s been achieved, I believe AXIS has only begun to scratch the surface of what’s possible. I have enormous confidence in Vince and his leadership, and I have comfort knowing that I am leaving the Company in very strong hands.”
Tizzio joined AXIS in January of 2022 as Senior Advisor – Insurance Market Strategy and future Insurance CEO, before having his role expanded in June 2022 to CEO, Specialty Insurance and Reinsurance, where he overseed all business lines and front-end operations.
According to the company, during Tizzio’s time as as CEO, Specialty Insurance and Reinsurance, AXIS continued to drive record premium growth for its specialty insurance business; implemented the repositioning of AXIS Re as a specialist reinsurer; launched AXIS Wholesale, a dedicated division servicing the wholesale market; expanded its offerings specifically designed for small-to-mid-sized businesses; launched efforts to grow the Company’s digital capabilities; and further scaled its global platform.
Smith added: Smith, “We couldn’t be more excited to announce Vince’s appointment as the future President and CEO of AXIS. During his first year with the Company, Vince has made an impressive impact, challenging AXIS to build on its progress by driving further profitable premium growth for its specialty insurance business, identifying exciting new avenues to grow the business, and helping us to become even more agile and efficient in our front-end operations. In addition, Vince is an energising and committed people leader who will continue to help our team and company unlock their significant potential.”