Axis Capital

The executive’s exit is part of a reassessment of Axis’s primary casualty book.

Dejung spent 13 years at Scor, most recently as cyber CUO.

It will begin underwriting from April 2024.

Marty Becker was previously chair of QBE Insurance and Alterra Capital.

The executive will continue in his role as global head of distribution.

With mixed results in the reinsurance space, the specialty pivot remains a "show-me" story.

Markel, Axis and Selective booked sizeable reserve charges in their liability segments.

The firm will still be prepared for ‘modest changes’.

Insurance Insider US runs you through the earnings results for the day.

Axis’s reserve cleanup removes longstanding overhang and narrows the credibility gap.

Axis shares were trading at almost $59 after closing at around $55 Tuesday.

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.