AXIS Capital Holdings has announced the appointment of Frank Romeo (pictured above) to lead its entry into the US marine cargo insurance market. He will be based in New York and will report to Helen Steadman, head of marine cargo, global markets.
In his new role, Romeo will be responsible for developing a tailored marine cargo proposition for the US market, with plans for a targeted product launch in the second half of 2023. His primary focus will be on establishing strong distribution relationships within the domestic marketplace, AXIS said. Collaborating with the global marine cargo team, he will also work towards building a diversified portfolio, initially focusing on transit, stock throughput, and excess stock exposure risk.
Romeo has more than 15 years of underwriting experience in marine insurance across the US and multinational programs at leading global carriers. He joins AXIS Capital from AIG, where he served as a senior marine underwriting specialist and team lead.
“Since our inception in 2001, AXIS has been immersed in building specialist underwriting solutions for diverse and complex marine cargo risks globally,” Steadman said. “The appointment of an underwriter of Frank’s caliber and experience as our first dedicated US-based marine cargo specialist is a very exciting step.”
“We are excited about expanding into the marine cargo market in the US,” said Mark Gregory, head of global markets at AXIS Capital. “This is part of our strategy at AXIS to explore new opportunities in lines of business and territories where we can add value for our customers and build profitable growth with distribution partners.”
Have something to say about this story? Let us know in the comments below.