AXIS Insurance names new chief pricing actuary

AXIS Insurance, the specialty insurance business segment of  AXIS Capital Holdings, has appointed a new chief pricing actuary, succeeding Brian Kemp who, earlier this year, was appointed as global chief data officer for the segment.

Usman Malik (pictured) has been promoted to chief pricing actuary. He will join AXIS Insurance's leadership team and report directly to CEO Pete Wilson. He will be based in the company’s London office.

In his new role, Malik will lead pricing strategy across the global Insurance segment, centered around enabling a consistent and global approach for portfolio construction. He will work in partnership with group underwriting and Insurance segment business leaders to establish pricing that supports the underwriting process and aligns with the Company’s risk and profitability thresholds. He will also work closely with Kemp to drive improvement in risk selection, pricing models, and portfolio monitoring.

Malik previously served as deputy chief pricing actuary, following several years as the segment’s head of property pricing. During his more than nine years at AXIS,he has held a series of leadership roles with increasing levels of responsibility, within the pricing and risk management functions. Prior to joining AXIS, he served for two years as chief actuary of Kuwait Reinsurance where he built the company’s actuarial function. Previously, Malik spent four years as a consulting actuary with Towers Watson.

Wilson said: “Usman is an exceptional leader and his promotion recognises the impact he’s made in enhancing our approach to pricing and catastrophe modelling. This includes the significant progress that’s been driven by his leadership in reshaping the strategic direction of our Property division. Usman’s promotion speaks to the priority that we place at AXIS in fostering a culture that’s conducive to creating growth opportunities for our talent.”

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