Axis Capital
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The company lowered its full-year core loss ratio 2.6 points to 55.1% and posted a $266mn full-year underwriting gain.
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Former Navigators CEO Vince Tizzio has joined as a senior adviser and will transition into the CEO role on June 1.
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Based in Alpharetta, Georgia, he will report to Britt Smith, senior vice president for US excess casualty.
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The executive said there was a strong case for meaningful rate increases in reinsurance.
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The company generated a $10mn underwriting gain in insurance, reversing last year’s $80mn loss, though the reinsurance division’s loss widened to $69mn.
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The carrier will phase out thermal coal business and invest $20mn in a green investment fund.
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The carrier has appointed Beth Convey, Julieta Moya and Mark Sutton to help build out its London FI business.
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Axis estimates Hurricane Ida will be a $35bn industry loss event while the European floods – from which Axis expects a $55mn bill – are projected to cost the industry $13bn.
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Tom Rivers joins the carrier from Axis Managing Agency, where he held the position of chief risk officer for nearly five years.
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Shuohan Dai joined as a senior underwriter and will work closely with existing teams to oversee the capital risk solutions team’s underwriting activities in the Asia Pacific region.
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Nine (re)insurance firms in London took part in the programme for career-break women, organised by diversity and inclusion firm Inclusivity and supported by the Insurance Families Network.
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The carrier has restructured its cyber business with stringent underwriting conditions.
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