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It is understood that the shutdown will impact about 25 employees. -
Worsening claims activity, privacy concerns and emerging threat actors have yet to reflect in pricing.
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Gangu will likely take a gardening leave after vacating his post to consider future steps.
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Gittler joined Axa XL in 2012 and had led the cyber underwriting team since 2021.
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The capacity increase follows the debut of new cyber risk management capabilities.
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Improved cyber hygiene and strong insurer competition has driven rate reductions.
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Launched in 2021, Axis is both an investor and capacity provider.
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Dan Riordan, Richard Abizaid and Javier Gomez will spearhead the unit.
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Ian George will be joined by Sawyer and Williamson as account executive and consultant respectively.
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The lineslip will focus on coverage for the energy transition space.
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AM Best assessed Dellwood’s balance sheet strength as “very strong”.
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It said improvements in cyber hygiene, underwriting and policy language were contributing factors.
