AXIS Capital appoints group CUO to advance leadership in specialty

Bermuda-based re/insurer  AXIS Capital Holdings has appointed a new group chief underwriting officer as part of its wider strategy to advance its position in the specialty market.

Dan Draper (pictured) has been promoted to the role of group CUO. He will guide the centralisation of the company’s underwriting analytics and support functions into a single division that he will oversee. Additionally, the new role will see Draper 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.

Draper, who is based in London, will report to president and CEO Albert Benchimol and join the company’s executive committee.

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, he 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.

Benchimol said: “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. 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.”

“The introduction of the new Group Chief Underwriting Officer organisation presents an opportunity for AXIS to be more agile, efficient, and connected in our approach to portfolio management, pricing, data and analytics,” he added.

Draper commented: “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.”

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