Axis cut cyber exposure by 40%, averaged 50% cyber rate increases in 2021
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Axis cut cyber exposure by 40%, averaged 50% cyber rate increases in 2021

Axis benchimol cyber bermuda.jpg

Axis Capital cut its gross cyber exposure by 40% since June and achieved an average 50% rate increase in the line in 2021, CEO Albert Benchimol said on Thursday. He also said the company increased the retention on its cyber quota reinsurance treaty at renewal.

The executive, speaking to analysts after the company reported a strong fourth-quarter underwriting gain, said the underwriting actions Axis, along with the rest of the industry, took in cyber were beginning to bear results.

“We've

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