AXIS Capital: Everything you need to know
Offices worldwide: 18
Countries and territories served: 200+
Headquarters: 92 Pitts Bay Road, AXIS House, Pembroke, HM 08, Bermuda
Founded: 2001
Through its insurance subsidiaries, AXIS Capital Holdings delivers specialty insurance and reinsurance solutions to clients around the world. The company’s expertise in specialty insurance includes accident and health, casualty, cyber, environmental, management liability, professional liability, property, and program business.
- The AXIS Capital group of companies includes:
- AXIS Specialty Limited (including the Singapore branch)
- AXIS Specialty Europe SE (including London and Australian branches)
- AXIS Re SE (including Zurich branch)
- AXIS Reinsurance Company (including the Canadian branch)
- AXIS Insurance Company
- AXIS Surplus Insurance Company
- AXIS Specialty Insurance Company
AXIS in the news
October 2017: AXIS completes the acquisition of Novae Group plc, a move that aligns with the company’s growth strategy and establishes its relevance in the London market for global specialty risks
October 2018: Axis Re switches up its global markets business, appointing new leaders to various roles
November 2018: AXIS sets up a consolidated global cyber and tech unit, which will enable AXIS to deliver the full range of its cyber and technology insurance capabilities, underwriting expertise and claims service to clients and brokers around the world
December 2018: AXIS Capital CEO takes Lloyd’s Council role
May 2019: AXIS Capital names a new information security chief
May 2019: AXIS Capital launches a refreshed brand, logo and website in conjunction with the launch of a new brand-awareness advertising campaign
May 2019: AXIS Capital partners with CyLon, a global cybersecurity start-up accelerator, to help educate cybersecurity start-ups on the opportunities and challenges of the cyber insurance market
June 2019: AXIS Re taps new head of Lloyd’s casualty reinsurance
February 2020: AXIS chairman and co-founder Michael Butt retires after five-decade career
April 2020: AXIS Insurance taps cyber veteran for newly created role
January 2021: AXIS Capital won't insure oil exploration in Arctic National Wildlife Refuge
March 2021: AXIS Insurance partners with cybersecurity firm to protect small businesses
June 2021: AXIS completes aviation unit rebrand
October 2021: AXIS announces updates to fossil fuel policy
November 2021: AXIS Insurance enters pet insurance market through a partnership with Petplan
January 2022: AXIS Insurance CEO Peter Wilson to depart in 2022; names Vincent C. Tizzio as replacement
Key leaders as of 2022
Albert A. Benchimol – President and chief executive officer of AXIS Capital Holdings Limited
Benchimol took on his current position in May 2012, though he has served as a director of the company since January 2012. He officially joined AXIS as executive vice president and CFO at the start of 2011. His previous roles include executive vice president and CFO of PartnerRe, CEO of PartnerRe’s Capital Markets Group business unit, and senior vice president and treasurer at Reliance Group Holdings, where he worked for 11 years, as well as some time spent at the Bank of Montreal in the 1980s.
Benchimol also wears several hats outside of the CEO office, including the role of chair of the Association of Bermuda Insurers and Reinsurers – which he took on in January 2019 after serving as vice-chair from 2017 through 2018 – and being appointed an external member of the Council of Lloyd’s in 2019.
Culture
In its 2018 annual report, AXIS outlined its perspective on community building, stating that alongside its focus on helping customers establish a secure future, the company is committed to building strong communities where its employees live and work.
Its initiatives include the AXIS Global Day of Giving Rally, which the company has scaled up over recent years, and which encourages employees globally to volunteer and make a difference in their communities. During the rally, AXIS allows its employees to take paid time off to contribute – and the results are paying off, as over half of AXIS employees took part in the rally in 2018 across 50 events in areas such as social services, hunger, health, environment, and education.
Other initiatives that AXIS supports include Habitat for Humanity and Covenant House, as well as the Dive In Festival, which aims to promote diversity and inclusion in the insurance industry.
AXIS is also doing its part in environmental preservation. On January 1, 2020, the firm’s policy to limit thermal coal and oil sands underwriting and investment went into effect and by the year end, AXIS has expanded it to include limitations on insurance, facultative reinsurance, and investment in oil and gas projects in the Arctic National Refuge.
As an initial step to address its carbon footprint, AXIS also completed an audit of its 2019 greenhouse gas (GHG) emissions.
