Axis Capital

Inmaculada Gonzalez was previously US head of ceded reinsurance placements.

He will report to John Van Decker, president of global financial lines, and will also work closely with Axis Wholesale, led by CEO Carlton Maner.

The decision is the carrier’s latest step in its ambition to transition to a low-carbon economy.

Axis CEO Albert Benchimol has led posthumous tributes to industry veteran Michael Butt.

Inside P&C’s news team runs you through the key highlights of the week.

Axis has reported good results as it heightens its focus on specialty business, but it remains to be seen if it can close the value creation gap.

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In an interview with this publication, the CEO admitted the transition “took longer than any one of us would have wanted”.

The carrier estimated losing less than $10mn of desired renewals due to exits from property and property cat reinsurance.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Pre-tax catastrophe losses during the quarter totaled $64mn, including weather-related losses of $32mn, primarily attributable to Winter Storm Elliott.

Although 2022 was on balance, a good year, macro-economic issues such as a slowing economy, falling employment, and loss cost reversion could create an overhang for 2023.