Axis Capital
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The primary casualty book was down by “some 26-odd percent from the prior year”.
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The GWP gain was driven by an 11.2% increase in the insurance top line and 11.8% in reinsurance.
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The executive will be based in Zurich and report to international CUO Joerg Bruniecki.
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The executive is also CUO of Axis Managing Agency.
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The syndicate reported profit up 44.7% to $153mn for the year.
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Dejung spent 13 years at Scor, most recently as cyber CUO.
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It will begin underwriting from April 2024.
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Talbot has lost a trio of PV underwriters to Ark in recent months.
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Marty Becker was previously chair of QBE Insurance and Alterra Capital.
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Slipstream will be available to marine, cargo and logistics UK clients.
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Head of FI Samantha Shean is leaving Axis to join Aviva.
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The firm will still be prepared for ‘modest changes’.
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Its PPD ratio for the quarter jumped 34.2 points YoY to 33.6%.
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Axis shares were trading at almost $59 after closing at around $55 Tuesday.
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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.
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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.
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The transaction would have been one of the largest the market has seen for years.
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The Syndicate 2050 will provide capacity for new energy projects that support the transition to net zero.
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Stan Galanski most recently served as president and CEO of The Navigators Group until its 2019 acquisition by The Hartford.
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The latest class of business entry forms part of the carrier’s ongoing international insurance expansion.
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Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.
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John Owen has been with Axis – and Novae prior to its merger with Axis in 2017 – for 19 years in underwriting and leadership roles.
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The Bermudian also revealed a $29mn restructuring charge for Q3.
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The 11.6-point CoR improvement was driven by smaller catastrophe losses, which totaled $42mn for the quarter, compared to $212mn a year ago.
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Carlton Maner is stepping down after having served at AXIS for almost 22 years.
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Staff movement in the marine class exceeds that in all other lines of business.
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The sidecar has been launched alongside partner Stone Point Credit Adviser.
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The executive will drive the carrier’s new change programme, ‘How We Work’.
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Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.
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The carrier has strengthened its cargo team following the departure of two underwriters.
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The underwriter will join the company following the departure of underwriters David Axtell and Ryan Godfrey.
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It is understood that Cozens will follow former head of cyber and technology Creasy to Inigo.
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Market conditions remain “vibrant” with substantial rate increases in property business.
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The carrier’s consolidated combined ratio improved 1.9 points to 91.5%, as its Q2 pre-tax cat losses declined 52%.
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The vehicle is turnkeyed by Mission Underwriters.
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The underwriter specialises in business including commodity traders, petrochemical risks and African business.
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The executive has worked at the Bermudian carrier for more than two decades.
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The executive will be responsible for shaping the business unit’s strategy in alignment with the wider reinsurance business.
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Raj Brar has spent more than four years at the carrier as a senior construction underwriter.
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She will report to global head of cyber and technology Dan Trueman and play a key role in shaping the team’s strategic direction.
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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual.
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She will be responsible for driving the firm's global data strategy and governance as well as overseeing the analytics operating model.
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Mark Gregory was previously CEO of Axis’s international division, while McKenna was CUO of Falvey Insurance Group for two years.
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The withdrawal from the aviation reinsurance class announced yesterday represented ~$10mn of non-renewed premium.
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The decrease was also driven by non-renewals of some marine business in Q1 as well as declines in some specialty lines including liability, and accident and health.
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The carrier has made significant investments towards launching in numerous primary specialty classes in London.
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Based in New York, Watt will report directly to Axis specialty insurance head and incoming group CEO Vince Tizzio.
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The appointment comes following the departure of Stephen Haynes, who has joined Argenta.