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Axis Re, the Pembroke, Bermuda-based reinsurance unit of Axis Capital Holdings Ltd., has named Megan Thomas, previously with American International Group Inc., as its chief underwriting officer, Axis Capital said in a statement Wednesday.
This is a newly created position in which Ms. Thomas will work alongside Axis Re regional presidents to support them on product and portfolio management, a spokesman for the company said in an email.
She will be based in New York and report to Axis Re CEO Steve Arora, to whom the regional presidents also report, the spokesman said. She will also join the reinsurance leadership team, the statement said.
Prior to serving as global chief underwriting officer of liability lines for AIG in New York, she was chief underwriting officer and head of AIG catastrophe excess liability in Bermuda.
“Megan is a unique leader grounded in industry fundamentals while also forward-looking on the evolving industry and risk landscape,” Mr. Arora said in the statement. “She is a proven CUO who brings deep underwriting experience across multiple global markets.”
Bermuda-based insurer and reinsurer Axis Capital Holdings Ltd. ceded $40 million of premiums and $10 million of losses to Axis Reinsurance Co., its third-party capital reinsurance unit, in 2016, Artemis.bm reported. Axis Capital ceded $19 million of premiums and $23 million of losses to Axis Re in 2015.