AXIS Capital Holdings has declared the launch of a portfolio risk underwriting unit. The unit targets a multi-class portfolio business that is placed in the London speciality insurance market. The AXIS portfolio team is now actively underwriting portfolios of multi-class risks on a follow-line basis, the corporation said.
The unit is led by Christine Cook, who joined AXIS in the newly created role of head of portfolio underwriting in the international security district. Cook has more than 20 years of underwriting experience in the London market. She joins AXIS from AXA XL, where she most recently fulfilled as head of alternative distribution for the UK and Lloyd’s.
“The London speciality insurance market today is embracing a tiered underwriting model whereby the traditional open-market business is increasingly spotted with proven lead underwriters at one end of the spectrum, and low-touch, follow and portfolio-based capacity at the other end,” said Alistair Robson, chief underwriting official for AXIS Insurance International.
“The formation of the portfolio underwriting unit reflects our keen knowledge of speciality risk and our support for the evolution of the London market. It also aligns with our desire to work with our strategic distribution partners to harness technology and smart underwriting to continue delivering the best solutions for our customers. Christine brings a prosperity of knowledge and experience to AXIS that will be invaluable as we address this evolution in the London market, and I’m pleased to welcome her to the team.”
“Specialist underwriting is at the core of AXIS, and it is essential that we continue to underwrite and deliver solutions on the most effective strategies and through the most efficient channels to provide the best service for our distribution partners and customers,” Cook said. “The portfolio unit represents the strength and expertise of AXIS underwriting and of the London market’s ability to cover complex risks through collaborative and innovative approaches. I’m pleased to join AXIS to support this exciting expansion of its specialist underwriting capabilities.”