Axis

Collaboration critical if onshore wind industry is to reach potential

Axis’ Peter Fitzsimmons and Becky Nace examine the complexities of insuring onshore wind…

Axis Re to hire Canopius’ Gray as head of marine

Canopius’ deputy head of reinsurance Chris Gray is set to join Axis as head of marine reinsurance, The Insurer can reveal.

Axis’ Osterrieder: High casualty ceding commissions are not sustainable

Dan Osterrieder, head of casualty North America at Axis Re, answers our questions on the state of the market…

Axis’ Silas: Credit and political risk market faces “increasing complexity and uncertainty”

Michael Silas, head of global credit at Axis Re, responds to our questions on the latest trends in credit and surety reinsurance…

Property cat exit as part of specialist reinsurance focus will not damage relationships: Axis

Axis Capital’s exit from property reinsurance business will not negatively impact existing relationships, with more than three-quarters of the $2.1bn premium in force coming from customers where property cat makes up less than 10 percent of the relationship, according to president and CEO Albert Benchimol.

Axis names Draper CUO and forms new centralised UW analytics and support platform

Axis Capital is centralising its underwriting analytics and support functions into a single division that will be led by Daniel Draper, who has been promoted to group chief underwriting officer.

Axis’s July reinsurance renewal volume drops 32% after property exit

Axis Capital’s exit from property reinsurance business led to its renewal volume dropping by 32 percent at1 July while pricing on the business it did renew was up almost 7 percent on average, the Bermudian (re)insurer’s president and CEO Albert Benchimol has revealed.

Axis beats but UW income dips 20% in Q2 on lower reinsurance profits

Underwriting income at Axis Capital fell 20 percent in the second quarter, as a stable contribution from its insurance division was offset by a deterioration in reinsurance on the back of higher cat losses on a portfolio the Bermudian is in the process of exiting.

Axis gets stable outlook from S&P on strengthened UW, lower volatility

S&P Global Ratings has raised its outlook on Axis Capital to stable from negative, citing strong underwriting performance in the company’s primary specialty insurance unit, and the steps it has taken to drastically cut volatility from its portfolio.

Aon adds Romeo to reinsurance ranks in Bermuda

Aon’s Reinsurance Solutions arm has continued to add depth to its senior executive team in Bermuda by recruiting Roman Romeo, most recently president and head of North American property at Axis Re Bermuda, The Insurer can reveal.

Axis $1bn+ PL quota share FOTs at flat 35% cede with two-year option

Axis Capital’s professional liability quota share has firm ordered at its expiring 35 percent ceding commission, with reinsurers also given the option to do the deal on a two-year basis with a 34.5 percent cede, in the latest sign that the upward march in commissions for long-tail lines deals looks to have topped out, The Insurer can reveal.

Axis Re exiting $706mn property book after shrinking it by 31% since 2019

Axis Capital’s announcement earlier on Tuesday that it would be pulling out of the property reinsurance business means the company will be giving up a $706mn-premium portfolio, which the company has scaled by 31 percent since it peaked at just over $1bn in 2019.

Axis Re CEO Arora to depart as platform exits property amid specialty pivot

Axis Capital’s reinsurance CEO Steve Arora is leaving the Bermudian with Ann Haugh stepping into the role, as Axis Re exits property treaty and comes under the oversight of Vince Tizzio as part of a shift towards specialty underwriting at the group level.

Benchimol tells staff “no plans” to sell Axis Re

Axis Capital has told employees that it has no plans to sell its reinsurance business, after it is understood to have ended a short process to explore a potential divestment that showed limited appetite for a stand-alone reinsurance division at a price the Bermudian would find acceptable, The Insurer can reveal.

Axis hires Axa XL’s Cook to lead new London portfolio underwriting unit

Axis Capital has launched a portfolio underwriting unit to target multi-class portfolio business placed in London’s specialty insurance market.

Bids on Axis reinsurance unit due Friday

Bids in the two-week sales process for Axis Capital’s reinsurance division are due on Friday, for a possible deal that will lay bare investor appetite for a standalone, pure-play reinsurance outfit, The Insurer can reveal.

Axis’s Benchimol declines to discuss reinsurance sale rumours

Axis president and CEO Albert Benchimol has refused to discuss the possibility the company is planning to put its reinsurance unit up for sale, emphasising to analysts that the Bermudian remains focused on positioning itself to generate top-tier returns on capital, rather than responding to any “crazy” market rumours.

Axis UW income more than triples to $139mn as ex-cat LR falls to 54.1%

Axis Capital made continued progress on cutting its core loss ratio in the first quarter, improving the figure by 0.9pts to 54.1 percent as sharply lower catastrophe losses helped power underwriting income in the quarter to $139mn, up from $40mn last year.

Axis Specialty Europe appoints Mullarkey as CEO

Axis Capital has promoted Fintan Mullarkey to CEO of Axis Specialty Europe.

Axis targets 15mn US home-based business owners segment with modular offering

Axis is rolling out a modular offering targeting the fast-growing home-based business sector in the US that allows insureds to select a range of limits and coverages around a core general liability (GL) policy, including professional liability (PL), contents and crime.

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