Axis Capital
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Chuck Davis disclosed an affiliated fund had boosted its stakes in the Bermuda (re)insurer to almost $20mn.
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Allstate shares shrink 5.3 percent, while Axis shares lose almost 5 percent of their market value.
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A picture is emerging of the state of the reinsurance market heading into the mid-year renewals.
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The carrier is to book $140mn of weather-related losses and $29mn from agricultural reinsurance. -
Sam Walsh joins from GCube, while liability specialist Pifer moves over from another Axis division.
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Joining the board is Anne Melissa Dowling, a former insurance regulator in Connecticut and Illinois.
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Axis reported a Q3 operating loss, while Argo anticipates a $42mn reserve charge in the period.
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The Bermuda carrier will also curb investments in fossil fuel-exposed companies.
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David Hayward, who currently holds the position, will retire from the firm in March 2020.
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The new recruit joins after a 19-year international career with Axa XL.
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The results showed a mixed bag for (re)insurer use of third-party capital.
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The company said “pricing momentum continues to build across substantially all business lines”.
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