Axis hires Ethos’ Carr to lead E&S property

Axis Insurance has brought in Michael Carr from Ethos Specialty as its new head of US excess and surplus lines (E&S) property.

Carr will be responsible for developing and executing the insurer’s E&S property underwriting strategy.

It is understood Carr has replaced Marc Nance as the head of E&S property at Axis. Nance left Axis in July last year, according to his LinkedIn profile. Nance had been with Axis since January 2003 following the acquisition of Combined Specialty Insurance Company.

Carr joins Axis having previously led the property unit at Ethos, where he also held the title of executive vice president. He had joined Ethos in January 2018 shortly after the Ascot-subsidiary’s formation.

He brings 27 years of industry experience to the new role. Prior to joining Ethos, Carr was a senior vice president responsible for the E&S property product line at Liberty International Underwriters (LIU), a platform he launched in 2010.

Before joining LIU, he held various leadership roles at companies including Alterra/Max Specialty, Crum & Forster, Ace Westchester and AIG.

Having now joined Axis, Carr will report into Carlton Maner, the CEO of Axis Insurance’s US division. The new arrival will be based in Alpharetta, Georgia.

“Michael is a highly respected property underwriter and a talented insurance leader. He brings extensive experience and knowledge in the US E&S property market, along with a proven ability to develop fresh solutions to help address client needs,” said Maner.

The E&S market has been one of the fastest growing segments across the entire (re)insurance industry in the last couple of years.

For example, as The Insurer reported on Monday, the Surplus Lines Stamping Office of Texas reported $1.67bn of excess and surplus lines premium was recorded in its state in the first quarter, up 14.5 percent over the first quarter of 2019 and 27.4 percent higher than the first quarter of 2018.