Axis Capital
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The executive will step into a newly created role which was announced in the company’s strategic plan in June. -
The executive laid out the carrier’s plans following a property cat exit on a call with analysts.
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The underwriter specialises in aviation and marine sub-segments of the accident and health class.
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The Bermudian’s gross premiums written rose 9% year-on-year as increases from the insurance segment offset a 4% decrease in reinsurance.
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The appointment comes amid a flurry of movement within the construction class.
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The property reinsurance underwriter had joined Axis Re’s London team three years ago.
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Market orthodoxy suggests cross-class reinsurers secure more leverage – but are there too many implicit offsets in this game?
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Plus the latest people moves and all the top news from the week.
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The carrier’s move to cement its identity as a specialty (re)insurer could put it at a competitive disadvantage.
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The move comes after an abortive effort from Axis to sell its entire $3bn-premium reinsurance business.
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Axis class construction underwriter Ian Smith looks set to leave his role at the company, Insurance Insider can reveal.
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The ratings agency cited beneficial insurance and reinsurance pricing and a reduction in the carrier’s catastrophe risk exposure.
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