Axis Insurance, a division of Axis Capital Holdings Ltd., named Michael Carr head of U.S. excess and surplus property, Axis Capital said in a statement Tuesday.
Mr. Carr will be responsible for Axis Insurance’s E&S property underwriting strategy and diversification of its underwriting portfolio, the statement said.
He is based in the company’s Alpharetta, Georgia, office and reports to Carlton Maner, CEO of Axis Insurance’s U.S. Division, the statement said.
Previously, Mr. Carr was executive vice president and head of property at Ethos Specialty Insurance Services LLC.
Bermuda-based insurer and reinsurer Axis Capital Holdings Ltd. plans to cede more premiums to insurance-linked securities' partners this year after doubling ILS-related cessions to nearly $600 million in 2018, Artemis.bm reports. Albert Benchimol, chief executive of Axis Capital, said that Axis Capital will set up new risk-funding units to channel different types of risk to ILS investors.