Axis Capital

Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500.

The former GL leader takes up a New York and Connecticut role.

The underwriters join from Gallagher, Chubb and Starr as Axis experiences increased product demand.

The appointments follow the recruitment of a trio of cyber underwriters in July.

The PE firm, whose founder sits on the Bermudian’s board, began building the stake in March.

Axis Capital and Argo Group shares jumped nearly 5%, while shares in Arch, Travelers and Alleghany were all up more than 3%.

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.