AXIS brings in duo to steer US ocean marine

AXIS Capital has introduced the quick appointments of Paul Boulos (pictured left) and Rob Ryan (pictured proper) as heads of ocean marine within the US.

Reporting to North America head Michael McKenna, Boulos and Ryan will collectively oversee the event of a complete vary of ocean marine insurance coverage merchandise. The initiative aligns with AXIS’s purpose of changing into a number one specialty insurer.

The duo’s roles will embody collaboration with Frank Romeo, who has been the US head of cargo at AXIS since 2023.

“Paul and Rob be part of AXIS with intensive experience, confirmed management, and outstanding standing out there, positioning them to drive our ocean marine enterprise ahead,” McKenna famous.

“Led by their mixed imaginative and prescient and strategic acumen, we’re poised to raise our presence within the ocean marine market, form the route of our portfolio, and deepen our current dealer relationships as we proceed our journey in constructing out further specialty choices in North America.”

Boulos and Ryan convey a mixed 4 a long time of expertise in ocean marine underwriting and management to AXIS. Boulos beforehand held the place of nationwide cargo product chief at Navigators, a model below The Hartford. Ryan, in the meantime, was vice chairman managing the New York marine department at Navigators.

AXIS, working by way of its subsidiaries, is a worldwide specialty underwriter and supplier of insurance coverage and reinsurance options. The group’s presence spans operations in Bermuda, the US, Europe, Singapore, and Canada.

For the primary quarter of 2024, AXIS’s internet earnings obtainable to frequent shareholders amounted to $388 million, a rise from final 12 months’s $173 million.

On the time, AXIS president and chief government Vince Tizzio stated: “The outcomes of the primary quarter as soon as once more proof that AXIS is elevating its monetary efficiency, producing constant returns and powerful metrics.

“Reflecting the elevated resiliency and consistency of our portfolio, AXIS delivered 18.2% annualized working ROE (return on fairness) and a mixed ratio of 91.1%. We continued to capitalize on typically favorable market circumstances, rising gross premiums written by 11% over the prior 12 months interval.

“Our specialty insurance coverage enterprise continues to carry out very strongly, attaining a mixed ratio of 86.6% and document first quarter premium manufacturing of $1.6 billion, fueled by double-digit premium development throughout each our North America and London-based international markets divisions.”

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