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AXIS Appoints Dan Draper as Group Chief Underwriting Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
AXIS Capital Holdings Limited (NYSE:AXS) has appointed Dan Draper as Group Chief Underwriting Officer, previously serving as Group Head of Underwriting. Draper will lead the centralization of underwriting analytics and enhance portfolio strategies. President and CEO Albert Benchimol expressed confidence in Draper’s leadership to drive improvements in portfolio quality and underwriting performance. This move aligns with AXIS's strategy to strengthen its position in specialty underwriting and deliver greater value to customers and shareholders.
Positive
Dan Draper has a proven track record at AXIS, having previously driven improvements in portfolio quality.
The centralization of underwriting analytics is expected to enhance efficiency and agility in portfolio management.
This appointment is part of a broader strategy to strengthen AXIS's leadership in specialty underwriting, potentially driving profitability.
Negative
None.
PEMBROKE, Bermuda--(BUSINESS WIRE)--
AXIS Capital Holdings Limited ("AXIS" or “The Company”) (NYSE:AXS), today announced that the Company has promoted Dan Draper to the role of Group Chief Underwriting Officer. Mr. Draper, who is based in London and had previously served as Group Head of Underwriting, will report to President and CEO Albert Benchimol and join the Company’s executive committee.
“We have tremendous confidence in Dan – he is a proven leader within AXIS who has an established track record of partnering with the business to drive consistent improvement in portfolio quality and underwriting performance over the past several years,” said Mr. Benchimol. “This is all part of our broader strategy to advance our leadership in specialty, grow profitably with our partners, and deliver increased value to both our customers and shareholders.”
In his new role, Mr. Draper will guide the centralization of the Company’s underwriting analytics and support functions into a single division that he will oversee. In addition, Mr. Draper will partner with the Company’s underwriting divisions on portfolio strategy and governance including exposure management, as well as introducing greater innovation into products and services delivered to existing and new customer segments.
The appointment of a Group Chief Underwriting Officer was one of several actions the Company announced earlier this year to advance its position as a specialty leader.
Added Mr. Benchimol, “The introduction of the new Group Chief Underwriting Officer organization presents an opportunity for AXIS to be more agile, efficient, and connected in our approach to portfolio management, pricing, data and analytics.”
“I’m looking forward to partnering with the business to build on the significant progress that we’ve made to strengthen the Company’s portfolio and advance our leadership in specialty. I believe we’ve only begun to scratch the surface of what is possible for AXIS,” said Mr. Draper.
Mr. Draper had previously served for more than two years as Group Head of Underwriting at AXIS. Prior to that, he had been Group Chief Risk and Actuarial Officer at VIBE. Before joining VIBE, Mr. Draper spent eight years with AXIS, holding a number of leadership roles that included Group Chief Actuary, Chief Risk Analytics Officer, and Insurance Segment Chief Risk Officer. Before that, he held managerial positions at the Financial Services Authority, XL Capital, and EY.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $4.7 billion at June 30, 2022, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength 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.
Who has been appointed as the new Group Chief Underwriting Officer at AXIS Capital?
Dan Draper has been appointed as the Group Chief Underwriting Officer at AXIS Capital.
What role did Dan Draper hold before becoming Group Chief Underwriting Officer at AXS?
Prior to his new role, Dan Draper was the Group Head of Underwriting at AXIS Capital.
What is the significance of Dan Draper's appointment for AXIS Capital?
Draper's appointment is expected to enhance underwriting performance and portfolio management, aligning with AXIS's strategy to lead in specialty underwriting.
When was the management change announced at AXIS Capital?
The appointment of Dan Draper as Group Chief Underwriting Officer was announced recently, but the specific date is not provided in the press release.
