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Axon Re has secured $10mn in backing from “Asian partners” for the new division.
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The new group will be led by Jonathan Conway, who joined as head of construction for Aon Re earlier this year.
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Brian Davies, Sebastian Tjornelund and Gustavo Gomez will join the club later this year to spearhead the move.
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Gard retains its position as largest Nordic hull insurer by premium volume.
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RSA pricing director Richard Read will take on the role until a successor is found.
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The executive takes on management responsibility for aviation and marine .
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The carrier is seeking a replacement for the senior underwriter.
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Carriers must update their definitions of “red flag” factors that trigger increased scrutiny of a risk.
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Tokio Marine Kiln Syndicate 510 improved its combined ratio by 7.1 points year on year.
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The carrier declined to confirm whether it will appoint a replacement.
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Motor achieves a rare year of underwriting profitability, while attritional claims send aviation further into the red.
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Dieter Berg, who has held senior roles at Munich Re and Swiss Re, takes a non-executive position at the InsurTech.
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