Axis Capital
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The headcount at the start-up now stands at around 40. -
Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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The Bermudian reported net pre-tax cat losses of $49mn, with $32mn attributable to the California wildfires.
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The carrier has moved to hire in the fine art and specie line after the exit of Mark Benbow.
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The executive has also worked for Guy Carpenter during her 20-year career.
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The carrier’s Q4 CoR decreased 34.8 pts YoY to 94.2% as it reported favorable prior-year reserve development.
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The appointment comes after the departure of Mark Benbow, who is joining Westfield.
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The transaction mostly covers casualty portfolios of 2021 and prior underwriting years.
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Aon announced in early December that it had expanded ACT to offer 28.5% capacity for 2025.
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The company’s reshaping of the book will be substantially completed by year end.
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Pre-tax cat losses were $78mn, or 5.8 points on the Q3 CoR, compared to last year’s $42mn, or 3.2 points.
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The launch will add to a marine portfolio which already includes cargo and reinsurance accounts.
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