Axis Capital
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Neil Ross was also appointed CUO for the broker’s MGA. -
Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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Company alum David Murie will lead the new business unit.
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Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
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Pricing was “virtually flat” in the second quarter.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
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The changes are aimed at improving underwriting and operational performance.
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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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The Insurance Insider US news team runs you through the earnings results for the day.
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New roles include CUO for primary and excess casualty and practice leader for complex specialty.
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Axis is retroceding $2.3bn of reinsurance segment reserves to Enstar.
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Markel had announced the exit from the line of business in the US last year.
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GAAP reserve triangles reveal the struggles of some hybrid franchises.
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The PE firm held over 6.7 million Axis shares, around 8.2% of shares outstanding.
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The carrier also grew TL written premiums by 11% in Q4 and 24% for the full year.
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The Insurance Insider US news team runs you through the earnings results for the day.
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New CEO Williamson will likely continue walking the hybrid path, with an emphasis on fixing US casualty.
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The three lines add up to 80% of the deal.
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The transaction mostly covers casualty portfolios of 2021 and prior underwriting years.
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A signal around Q4 adverse development has brought the carrier into the spotlight.
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Arch stands out among hybrids, but Axis and Everest grind it out.
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The company’s reshaping of the book will be substantially completed by year end.
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The Insurance Insider US news team runs you through the earnings results for the day.
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In tandem, John Posa joins the primary casualty team as vice president.
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The executive moves from his current role as chief risk officer for Axis Managing Agency.
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Mark Gregory will retire next March, while Sara Mitchell will initially join as a strategic adviser.
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The executive struck a cautious note on the industry’s reserve adequacy for the 2021-23 accident years.
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Civil case, nuclear verdict and claims count data show worrying trends.
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Severe convective storms, wildfires and hurricanes increasingly moving inland are top concerns for the industry.
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The outage is not expected to impact Axis’s financials at this time.
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A quick roundup of today’s need-to-know news, including AIG's earnings.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The executive will replace Habib Kattan, who joined the company last summer.
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Investor skepticism visible in stock prices and short interest data over first half of 2024.
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Launched in 2021, Axis is both an investor and capacity provider.
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The two join the company from Navigators, a subsidiary of The Hartford.
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Industry trends show the Axis book value growth goal may be hard to hit.
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New leaders of these reinsurers have started strong, but Axis still has work to do.
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The primary casualty book was down by “some 26-odd percent from the prior year”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Pauline Morley will report to John Van Decker, head of global financial lines.
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The executive is also CUO of Axis Managing Agency.
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The executive’s exit is part of a reassessment of Axis’s primary casualty book.
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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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Marty Becker was previously chair of QBE Insurance and Alterra Capital.
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The executive will continue in his role as global head of distribution.
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With mixed results in the reinsurance space, the specialty pivot remains a "show-me" story.
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Markel, Axis and Selective booked sizeable reserve charges in their liability segments.
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The firm will still be prepared for ‘modest changes’.
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Insurance Insider US runs you through the earnings results for the day.
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Axis’s reserve cleanup removes longstanding overhang and narrows the credibility gap.
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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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Anna Tan will play a pivotal role in elevating the position of AXIS in the US wholesale casualty market in alignment with the company’s position as a leading specialty insurer.
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Mike Cueman will be based in New York and report to global head of construction Steve Cross and, via a matrixed structure, to Michael McKenna, head of North America.
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He will be based in New York and report to Mike McKenna, head of North America.
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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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Coburn will report to Jason Busti, Axis Re president of North America.
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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 Inside P&C news team runs you through the earnings results for the day.
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Carlton Maner is stepping down after having served at AXIS for almost 22 years.
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The sidecar has been launched alongside partner Stone Point Credit Adviser.
