Axis Capital COO Richard Strachan resigns

Richard Strachan resigned as chief operations officer of Axis Capital Holdings Ltd. on Dec. 4, the company said in a U.S. Securities and Exchange Commission filing Tuesday.

The Pembroke, Bermuda-based company said Mr. Strachan has agreed to remain in a transitional role through January 2020.

Albert Benchimol, president and CEO of Axis, said in a statement, “Rich has been with Axis for close to two decades and has been a valued leader and colleague. Under his leadership, we introduced an operational infrastructure that has helped contribute to our growth to become a relevant player in the market. We wish him the absolute best as he begins this new chapter.

"While Rich will be greatly missed, the move presented us with an opportunity to step back and look at our operating model with fresh eyes. This has included making changes to how some of our functions and segments are organized to achieve both greater effectiveness and efficiency.”

Mr. Strachan, who joined Axis in 2002, had responsibilities as COO for operations, information technology and data, facilities, vendor management and business continuity, according to the biography posted on Axis’ website.

He previously served as COO for Axis Insurance and before that as its chief claims officer, and is a member of Axis’ executive committee.