Axis Capital
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial. -
The combined casualty treaty team has also made a number of hires.
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The company, however, sets a high bar on making a move.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The broker announced the launch of its cross-class facility this week.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
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Company alum David Murie will lead the new business unit.
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Cat portfolios generally grew, but casualty approaches varied.
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The French carrier’s first-half revenues were driven by 6% growth in P&C.
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Pricing was “virtually flat” in the second quarter.
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The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
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Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
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The changes are aimed at improving underwriting and operational performance.
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Markel International has also hired senior underwriter Keely Madden.
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The headcount at the start-up now stands at around 40.
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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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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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Everest Re bucked a more general trend to keep cat exposure stable.
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The company did not book any changes in its prior period reserve development.
