Axis Capital

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.

John Owen has been with Axis – and Novae prior to its merger with Axis in 2017 – for 19 years in underwriting and leadership roles.

The Bermudian also revealed a $29mn restructuring charge for Q3.

The 11.6-point CoR improvement was driven by smaller catastrophe losses, which totaled $42mn for the quarter, compared to $212mn a year ago.

Carlton Maner is stepping down after having served at AXIS for almost 22 years.

Staff movement in the marine class exceeds that in all other lines of business.

The sidecar has been launched alongside partner Stone Point Credit Adviser.

The executive will drive the carrier’s new change programme, ‘How We Work’.

Some 15 months on from the property reinsurance exit, he said the firm continued to reserve the right to reshape the portfolio.

The carrier has strengthened its cargo team following the departure of two underwriters.

The underwriter will join the company following the departure of underwriters David Axtell and Ryan Godfrey.

It is understood that Cozens will follow former head of cyber and technology Creasy to Inigo.