Axis Capital

Everest Re’s $1.5bn capital raise could be part of a continued pivot, or an early indicator of a shifting marketplace.

Mark Gregory was previously CEO of Axis’s international division, while McKenna was CUO of Falvey Insurance Group for two years.

The withdrawal from the aviation reinsurance class announced yesterday represented ~$10mn of non-renewed premium.

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.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

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.

Inside P&C’s news team runs you through the key highlights of the week.