AXIS Capital Holdings has appointed Sara Farrup as the top 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 a 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 just lately 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 shopper strains operations throughout 25 nations.
Farrup stated: “I really feel privileged to affix an already robust group inside World 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 got appointed an excellent chief to information our World Markets enterprise into its subsequent chapter. Sara brings intensive specialty data and a wealthy understanding of worldwide markets, a longtime observe report for fulfillment, 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 phase reserves to Enstar.
Whereas AXIS will preserve management over claims regarding the lined reserves, Enstar will probably be granted sure administrative rights.
