AXIS Capital Holdings has appointed Sara Farrup as the pinnacle of worldwide markets, a part of the corporate’s deliberate management transition introduced in September 2024.
Farrup will report back to AXIS president and CEO Vince Tizzio and be part of the chief committee.
Within the new function, Farrup is working out of London, changing Mark Gregory, who will stay concerned as a strategic advisor till March.
Farrup most not too long ago labored at Chubb, and earlier than that, held managerial positions at RSA and Allianz Insurance coverage.
Throughout her 13-year stint at Chubb, she served in a number of management positions together with divisional president of Continental Europe and MENA, the place she was tasked with dealing with property and casualty, accident and well being, and client strains operations throughout 25 nations.
Farrup mentioned: “I really feel privileged to hitch an already sturdy staff inside International Markets and am assured that collectively we will construct on the constructive momentum that already exists whereas offering our expertise with a powerful and vibrant tradition that’s conducive to success.”
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Commenting on the appointment, Tizzio said: “In Sara, we’ve appointed an excellent chief to information our International Markets enterprise into its subsequent chapter. Sara brings in depth specialty data and a wealthy understanding of worldwide markets, a longtime observe file for achievement, and powerful values that align with our tradition.”
The corporate made headlines final month after signing a loss portfolio switch (LPT) reinsurance settlement with Enstar Group.
Underneath the settlement, AXIS will retrocede $2.3bn of its reinsurance section reserves to Enstar.
Whereas AXIS will keep management over claims regarding the coated reserves, Enstar will likely be granted sure administrative rights.
