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CEO Juan Andrade laid out the new targets in an investor day presentation in which he said the carrier will become a “digital first” (re)insurer.
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The Bermudian start-up carrier adds professional lines to its growing list of product lines.
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The exit follows news earlier this year that founding CEO Chris Fagan was stepping down to be replaced by Bruce Hemphill.
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Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.
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Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.
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Axis Miami wrote direct and facultative property, political violence, energy, aviation and cyber risks, typically on a following market basis.
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The carrier also promotes chief claims officer Kirsten Valder to chief administrative officer, effective 30 June.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The industry veteran is credited with having built Arch’s well-respected mortgage credit business.
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The move comes amid a reassessment of ESG by (re)insurers.
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The diversification benefits and complementary capabilities Validus affords AIG, along with the parent’s move to split its life and P&C operations, factored into the upgrade.
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Ascot Group named Matthew Lillegard to its newly created post of group chief actuary on Wednesday, the latest in a flurry of hires.
