Axis Capital

The reserve strengthening was related to liability and professional lines related to 2019 and prior accident years, the firm wrote in a preliminary earnings disclosure.

The transaction would have been one of the largest the market has seen for years.

Anna Tan will play a pivotal role in elevating the position of AXIS in the US wholesale casualty market in alignment with the company’s position as a leading specialty insurer.

Mike Cueman will be based in New York and report to global head of construction Steve Cross and, via a matrixed structure, to Michael McKenna, head of North America.

He will be based in New York and report to Mike McKenna, head of North America.

Stan Galanski most recently served as president and CEO of The Navigators Group until its 2019 acquisition by The Hartford.

Coburn will report to Jason Busti, Axis Re president of North America.

Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.

John Owen has been with Axis – and Novae prior to its merger with Axis in 2017 – for 19 years in underwriting and leadership roles.

The Bermudian also revealed a $29mn restructuring charge for Q3.

The Inside P&C news team runs you through the earnings results for the day.

Carlton Maner is stepping down after having served at AXIS for almost 22 years.