Axis Capital
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The carrier has restructured its cyber business with stringent underwriting conditions. -
The company reported $139mn in Q2 cat losses that it said mostly came from Winter Storm Uri.
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The new hire joins from Axis’ capital risk solutions team.
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The insurer says the rebrand will fully align Aviabel and NLP with its Axis brand.
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The case is the latest US suit regarding whether physical damage is required to trigger BI payouts.
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Axis Miami wrote direct and facultative property, political violence, energy, aviation and cyber risks, typically on a following market basis.
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Axis promotes internally for new position to head up commercial partnerships.
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A smattering of data points and commentary from Q1 analyst calls shows that turnaround efforts are bearing some fruit.
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Ann Haugh will lead the new global property division, with Andy Hottinger heading up international and Jonathan Gray specialties.
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Insurance rates in the US rose 15%, while London market pricing was up 10%
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Axis posted operating earnings of $83mn in Q1, compared to an operating loss of $164mn in the same period last year.
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The carrier says it expects winter storms Uri and Viola to account for between $80mn and $90mn of claims absorbed during the period.
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