Axis Capital

The syndicate reported profit up 44.7% to $153mn for the year.

Dejung spent 13 years at Scor, most recently as cyber CUO.

It will begin underwriting from April 2024.

Talbot has lost a trio of PV underwriters to Ark in recent months.

Marty Becker was previously chair of QBE Insurance and Alterra Capital.

Slipstream will be available to marine, cargo and logistics UK clients.

Head of FI Samantha Shean is leaving Axis to join Aviva.

The firm will still be prepared for ‘modest changes’.

Its PPD ratio for the quarter jumped 34.2 points YoY to 33.6%.

Axis shares were trading at almost $59 after closing at around $55 Tuesday.

More than 100% of the reserve charge came from pre-pandemic years, as the slight release of $40mn that offset the full-year increase of $452mn was from 2020 to 2022 accident years.

The reserve strengthening was related to liability and professional lines related to 2019 and prior accident years, the firm wrote in a preliminary earnings disclosure.