Axis Capital
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The carrier is to book $140mn of weather-related losses and $29mn from agricultural reinsurance. -
Sam Walsh joins from GCube, while liability specialist Pifer moves over from another Axis division.
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Greenspan was more optimistic about Arch, switching her opinion to ‘overweight’ from ‘equal weight’.
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GCube specialises in marine, property, liability and political risk cover for the renewable energy market.
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Joining the board is Anne Melissa Dowling, a former insurance regulator in Connecticut and Illinois.
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Axis reported a Q3 operating loss, while Argo anticipates a $42mn reserve charge in the period.
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The Bermuda carrier will also curb investments in fossil fuel-exposed companies.
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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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