– BERMUDA, Pembroke – AXIS Capital Holdings Limited (NYSE: AXS) today announced the appointment of Mark McCormick as CEO of AXIS Re SE, subject to regulatory approval. ARe is AXIS Capital’s reinsurance legal entity domiciled in Ireland and regulated by the Central Bank of Ireland, with a Zurich branch.
In this role, Mr. McCormick will be responsible for ARe and the legal entity aspects of its Zurich branch. Mr. McCormick will also join the Board of Directors of AXIS Specialty Europe SE as a Non-Executive Director. ASE is AXIS Capital’s specialty insurance legal entity domiciled in Ireland and regulated by the CBI, with branches in London, Brussels and Amsterdam.
“Mark brings extensive experience in the global reinsurance industry, as well as the composure and business acumen that is necessary to manage a highly regulated legal entity such as AXIS Re SE,” said Megan Thomas, Chief Underwriting Officer of AXIS Re, the reinsurance business segment of AXIS Capital. “He has been with AXIS for 10 years and possesses a deep understanding of our organization and operations.”
Most recently, Mr. McCormick was Co-Head of Specialty Pricing for AXIS Re, where helped to develop and oversee the business segment’s specialty reinsurance pricing unit. In addition to his role as CEO of ARe, he will continue to provide support and advice to AXIS Re in relation to actuarial pricing matters for its Aviation, Marine and Agriculture lines of business. Previously, he managed all non-U.S. actuarial pricing for AXIS Accident & Health from 2010 until that business was merged into AXIS Capital’s insurance and reinsurance business segments in 2018. Mr. McCormick joined AXIS from AmTrust, where he was an actuary and underwriter, and previously held a variety of actuarial roles at Imagine and Fineos.
Mr. McCormick will continue to be based in Dublin. He succeeds Helen O’Sullivan, who will remain CEO and a Director of ASE. Ms. O’Sullivan will also continue to serve as a Director of ARe.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2019, of $5.5 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and the Middle East. Its operating subsidiaries have been assigned a rating of “A+” by Standard & Poor’s and “A+” by A.M. Best.
For more information: https://www.axiscapital.com
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