AXIS Appoints Chris Caponigro as Global Head of AXIS ILS

Rhea-AI Summary

AXIS Capital has appointed Chris Caponigro as the new Global Head of AXIS ILS, effective July 22. The company has also rebranded its third-party capital unit to AXIS ILS. Caponigro brings extensive experience from his previous roles in the reinsurance sector, which includes leading business development at Mt. Logan Re. His expertise in investor relations and underwriting is expected to enhance AXIS ILS's market position. AXIS Capital reported shareholders' equity of $5.2 billion as of March 31, 2021, highlighting its strong financial foundation.

Positive

• Appointment of experienced leader Chris Caponigro as Global Head of AXIS ILS, expected to strengthen the company's ILS business.
• Recent rebranding to AXIS ILS demonstrates commitment to growth and investor relations.
• Caponigro's extensive experience in reinsurance expected to provide fresh perspectives and enhanced leadership.

Negative

• Concerns about continuity given the leadership change; potential experience gaps in the new role.

AXIS Capital Holdings Limited ("AXIS Capital") (NYSE:AXS), today announced the appointment of Chris Caponigro as Global Head of AXIS ILS and the rebranding of its third party capital unit as AXIS ILS. Mr. Caponigro will oversee the Company’s activities related to third party capital under management, supporting efforts across its Reinsurance and Insurance segments. He will report to AXIS Re CEO Steve Arora and will be based out of the Company’s New York and New Jersey offices.

“Chris brings a unique mix of deep ILS and investor experience, combined with a technical background in underwriting, and strong interpersonal and leadership skills. Our team and our investors will benefit significantly from the expertise, perspective and partnership that Chris brings,” said Mr. Arora. “In recent years, we’ve elevated AXIS as a player in the ILS space. The addition of Chris to our team, combined with our rebranding of the business, demonstrates our commitment to investors and the priority that we are placing on growing our ILS business.”

“I’m excited to join AXIS, a leading underwriter and portfolio manager. I am impressed by the Company’s ability to customize portfolios for partners and its strong emphasis on service and responsiveness,” said Mr. Caponigro. “AXIS has a terrific platform and I believe there is significant potential to further grow the business while leveraging our ability to provide investors with broad access to the global specialty insurance and reinsurance markets.”

Mr. Caponigro will join AXIS on July 22.

AXIS ILS – “Matching the Right Risk with the Right Capital”

With leading underwriting acumen and portfolio management expertise, AXIS ILS matches the right risk with the right capital. AXIS ILS leverages its integrated model to package risk and execute transactions that deliver on the expectations of its customers and capital partners. The team is lean and nimble, enabling AXIS ILS the ability to adapt quickly to changing market conditions while offering a customized approach tailored for each of its clients.

About Chris Caponigro

Prior to joining AXIS, Mr. Caponigro had served as Head of Business Development at Mt. Logan Re/Everest Re, where he led investor relations and global capital fundraising responsibility for the private capital arm of Everest. Previously he had served as Head of North American Catastrophe Lines at Platinum Underwriters Bermuda. Before that, he held senior underwriting and corporate positions with increasing levels of authority at Platinum and St. Paul Re. Mr. Caponigro has close to thirty years of (re)insurance industry experience and holds an MBA from Fairleigh Dickinson University, bachelor’s degree from Susquehanna University and an executive education certificate from Harvard Business School.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity of $5.2 billion at March 31, 2021 and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.

Follow AXIS Capital on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210713005368/en/

FAQ

What are the details of Chris Caponigro's appointment at AXIS Capital?

Chris Caponigro has been appointed as the Global Head of AXIS ILS, effective July 22. He previously served at Mt. Logan Re and has nearly thirty years of experience in the reinsurance industry.

How will the rebranding of AXIS's third-party capital unit to AXIS ILS impact investors?

The rebranding is intended to signal a commitment to the investor community and enhance growth opportunities in the ILS space.

What is AXIS Capital's current financial position?

AXIS Capital reported shareholders' equity of $5.2 billion as of March 31, 2021, highlighting a strong financial foundation.

What experience does Chris Caponigro bring to AXIS Capital?

Caponigro brings a mix of investor and underwriting experience, having previously led business development at Mt. Logan Re and held senior positions at Platinum Underwriters and St. Paul Re.