PEMBROKE, Bermuda & MIAMI--(BUSINESS WIRE)--
AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS) today announced the formation of AXIS Specialty Underwriters Inc., based in Miami (“AXIS Miami”), to operate as the Company’s Latin American and Caribbean (LAC) regional coverholder for AXIS Syndicate 1686. AXIS Miami will operate within AXIS Insurance’s International Division and will provide direct and facultative reinsurance coverage to the LAC market, focused on energy and property.
The launch of AXIS Miami, combined with AXIS Re Brazil’s existing Sao Paulo-based representative office for treaty business, enables the Company to deliver a full range of facultative and treaty reinsurance solutions in the LAC region. AXIS Re Brazil’s Sao Paulo representative office will continue to service treaty reinsurance clients throughout the LAC region, under the direction of AXIS Re Zurich.
Latin American reinsurance industry veteran Eduardo Hussey will lead AXIS Miami as Chief Underwriting Officer, Latin America and Caribbean. Mr. Hussey has 20 years’ experience in the Latin American insurance and reinsurance sector, and joins AXIS from Marsh, where he held a number of regional senior-level roles.
“The launch of AXIS Miami is a significant milestone in our global strategy to provide leading specialty risk solutions in every region in which our clients operate,” said Mark Gregory, CEO of AXIS Insurance’s International Division. “In Eddie Hussey, we’ve added a proven market expert who will help enhance the services that we offer to our clients while growing our global underwriting platform in the Latin American and Caribbean market.”
Added Mr. Hussey, “I’m pleased to join such a highly respected specialty underwriting firm as AXIS. Working alongside our colleagues at AXIS Syndicate 1686, AXIS Miami will bring us closer to our clients in the LAC region to provide them with enhanced services and high-quality facultative reinsurance solutions.”
AXIS Syndicate 1686 is managed by Asta Managing Agency Limited under a turnkey arrangement with capital wholly provided by AXIS Corporate Capital UK Limited as a Lloyd's Corporate Member. AXIS Syndicate 1686 carries the Lloyd's financial strength ratings of "A+" (Strong) by Standard & Poor's, AA- (Very Strong) by Fitch Ratings and A (Excellent) by A.M. Best. The Syndicate also benefits from the strength of the Lloyd's brand and its network of global licenses.
About AXIS Capital
AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2016 of $6.0 billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada and Latin America. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A+” (“Superior”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Please be sure to follow AXIS Capital on LinkedIn.
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