Axis Capital
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The appointment comes after the departure of Mark Benbow, who is joining Westfield. -
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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Chris Cane and Jaime Hunwicks join from Talbot, Jonathan Bint from Chaucer and Molly Ashcroft from Axis.
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Dax Gulmohamed succeeds Fintan Mullarkey, who is departing following a 21-year career with Axis.
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The executive moves from his current role as chief risk officer for Axis Managing Agency.
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Mark Gregory will retire next March, while Sara Mitchell will initially join as a strategic adviser.
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The executive struck a cautious note on the industry’s reserve adequacy for the 2021-23 accident years.
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The change comes as negotiations start to kick off for 2025 renewals.
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