AXIS Launches Wholesale Division

Rhea-AI Summary

AXIS Capital Holdings Limited (NYSE: AXS) announced the launch of AXIS Wholesale, a dedicated division for the wholesale market, led by Carlton Maner as CEO. This initiative aims to enhance customer service and product offerings tailored to the wholesale channel. The division will integrate existing business units including E&S Property, Primary Casualty, and Financial Institutions. With a shareholders' equity of $4.7 billion as of June 30, 2022, AXIS plans to strengthen its position in the specialty insurance sector while delivering improved services.

Positive

• Launch of AXIS Wholesale to enhance focus on the wholesale market.
• Dedicated teams and resources aimed at improving customer service.
• Integration of existing business units to streamline operations.
• Ambition to introduce new products and services designed to meet customer needs.

Negative

• None.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- AXIS Capital Holdings Limited ("AXIS" or the “Company”) (NYSE: AXS), today announced that it has launched AXIS Wholesale, a new division dedicated specifically to servicing the wholesale market. The division is being led by Carlton Maner who has been appointed as CEO, AXIS Wholesale, reporting directly to AXIS Specialty Insurance and Reinsurance CEO Vincent Tizzio. This appointment expands upon Mr. Maner’s prior responsibilities as CEO, U.S. Division.

“AXIS has operated in the wholesale space since our inception, and with the launch of AXIS Wholesale we’re leaning into what we do best,” said Mr. Maner. “Through the new Wholesale division, we’re introducing dedicated teams and resources focused specifically on the wholesale channel. This speaks to our ambition to grow profitably with our customers as we introduce new products and services designed directly to meet their needs.”

“The creation of our dedicated Wholesale division aligns directly with our company-wide focus on advancing our existing leadership position in specialty,” said Mr. Tizzio. “It reflects our deep commitment to the wholesale channel and our focus on delivering great service to our customers while enabling them to leverage the full strength and breadth of our global platform.”

AXIS Wholesale will include a combination of AXIS teams and personnel as well as additional personnel dedicated to the Wholesale division and future products to be introduced in the months ahead. The Wholesale division will include the following existing business units: E&S Property; Primary Casualty & Excess Casualty; Programs; Design Professionals & Environmental; Wholesale broker-produced Commercial Management Solutions (CMS); and Wholesale broker-produced Financial Institutions (FI).

In addition, the following AXIS executives have been appointed to new roles: Doug Wordekemper, as AXIS Wholesale Head of Financial Lines, reporting to Mr. Maner; Nathan Fisk, as AXIS Wholesale CMS Unit Leader, reporting to Mr. Wordekemper; and Christina Geller, as AXIS Wholesale FI Unit Leader, also reporting to Mr. Wordekemper.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with 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 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220908005300/en/

Investor Contact

Mei Feng Zhang

AXIS Capital Holdings Limited

investorrelations@axiscapital.com

+12129403312

Media Contact

Mairi MacDonald

AXIS Capital Holdings Limited

mairi.macdonald@axiscapital.com

+442078773809

Source: AXIS Capital Holdings Limited

FAQ

What is the purpose of AXIS Wholesale launched by AXS?

AXIS Wholesale aims to enhance focus on the wholesale market with dedicated teams and resources.

Who is leading the new AXIS Wholesale division?

Carlton Maner has been appointed as CEO of AXIS Wholesale.

What existing business units will AXIS Wholesale include?

AXIS Wholesale will include E&S Property, Primary Casualty, Financial Institutions, among others.

How much is AXIS Capital's shareholders' equity?

AXIS Capital's shareholders' equity was $4.7 billion as of June 30, 2022.

What is the significance of AXIS Wholesale for AXS investors?

The launch of AXIS Wholesale reflects AXIS's commitment to growth in the specialty insurance sector, which may positively impact investor confidence.