Axis Capital

The decrease was also driven by non-renewals of some marine business in Q1 as well as declines in some specialty lines including liability, and accident and health.

Tizzio’s new employment agreement starts May 4, 2023 and ends December 31, 2026, with automatic one-year renewal periods unless either party gives prior notice of non-renewal.

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Based in New York, Watt will report directly to Axis specialty insurance head and incoming group CEO Vince Tizzio.

Inmaculada Gonzalez was previously US head of ceded reinsurance placements.

He will report to John Van Decker, president of global financial lines, and will also work closely with Axis Wholesale, led by CEO Carlton Maner.

The decision is the carrier’s latest step in its ambition to transition to a low-carbon economy.

Axis CEO Albert Benchimol has led posthumous tributes to industry veteran Michael Butt.

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Axis has reported good results as it heightens its focus on specialty business, but it remains to be seen if it can close the value creation gap.

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In an interview with this publication, the CEO admitted the transition “took longer than any one of us would have wanted”.