Axis Capital

The venture will distribute D&O and EPL policies through Axis’ wholesale broker network.

Sue Ringold and Bill Orendorf will join Roman Romeo’s team in Bermuda.

The underwriter reported continued improvement in underlying results with its second quarter results.

Peter Smith, Emma Werth and Jessica Currier have joined the business.

Earnings at Axis fell as the company reported $300mn in cat losses – including $235mn stemming from the Covid-19 pandemic – as the carrier continued to show strong underlying improvement.

The ratings agency says the revision reflects a deterioration in the (re)insurer’s operating performance.

Covid claims would lead to a 106% 2020 combined ratio, the ratings agency says.

Carrier also to report investment income down 13 percent for Q1.

Albert Benchimol says the job of insurers is to mutualise risk, not subsidise it.

Perkins arrives at the carrier after working at Lockton for five years.

Michael Carr will report to US CEO Carlton Maner.

The executive was head of casualty for North America and London for Axis Reinsurance.