AXIS Capital hires new reinsurance CEO from Swiss Re

Bermuda-based AXIS Capital Holdings has appointed Steve Arora as the new chief executive officer of AXIS Re.

Arora was recognised by the World Economic Forum as a young global leader and joins the company from Swiss Re where he spent 18 years in a variety of senior positions, most recently as head of casualty reinsurance and as a member of the reinsurance executive committee.

“I am very excited to join AXIS. I am impressed with the strong team and company culture, and the value proposition which combines the agility of a mid-sized company with the sophistication of a global player,” Arora commented. “This combination leads to a unique competitive advantage, which I am confident will translate to increased relevance and long-term profitable growth.”

Arora will lead AXIS Capital’s $2.2 billion reinsurance business and will also become a member of the company’s executive committee where he will report to president and chief executive officer Albert Benchimol.

"Steve is a remarkable talent and an accomplished and widely respected executive who stands at the forefront of an emerging generation of senior leaders in our profession," Benchimol said. "He is perfectly suited to be CEO of AXIS Re, bringing breadth and depth of experience on a global scale and a client-centric mentality that matches our culture."

In addition, the company announced that AXIS Re interim CEO Jan Ekberg will resume his previous role as president and chief underwriting officer of AXIS Re Europe upon Arora’s formal appointment in January 2018.

Benchimol added: "On behalf of AXIS, I must express my deep appreciation to Jan for his strong and steady oversight of our reinsurance business during the interim period. Jan’s leadership has and will continue to be integral as we further establish a strong foundation for growth in our key sectors."

Throughout his career, Arora has held positions in New York, Munich, London, Tokyo and Zurich. In addition to his role as head of casualty reinsurance, he served as president of Swiss Re Japan, managing director to some of its largest global clients, and head of the engineering & construction business across the Americas region.

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