Axis Capital
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The Bermuda carrier will also curb investments in fossil fuel-exposed companies. -
The insurer reportedly follows in the footsteps of carriers including Axa, Allianz, Munich Re and Swiss Re.
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David Hayward, who currently holds the position, will retire from the firm in March 2020.
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The Bermuda (re)insurer exits management liability, along with marine hull, power and product recall.
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The carrier’s current total of $2.1bn has grown from $300mn at the start of 2015 and is up $100mn since the start of the year.
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The new recruit joins after a 19-year international career with Axa XL.
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The results showed a mixed bag for (re)insurer use of third-party capital.
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Further details of the cyber placement show the risk is fairly evenly spread across the US, Bermuda and London markets.
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Jason Busti will hold the position of North America president.
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The company said “pricing momentum continues to build across substantially all business lines”.
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Axis and Swiss Re were able to top up on ILW cover at the lower end of their targeted costs.
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Robert Hands' arrival reflects the expansion of the reinsurer's strategic partners unit.
