This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AXIS Insurance Expands Its Global Underwriting Platform With New Lloyd’s Syndicate: AXIS Syndicate 1686

Stocks in this article: AXS

AXIS Capital Holdings Limited ("AXIS Capital") (NYSE:AXS) today announced the expansion of the Company’s global underwriting platform, facilitated through the establishment of a new syndicate that will provide access to Lloyd’s worldwide licenses and an extensive distribution network. The new syndicate, “AXIS Syndicate 1686,” which has been approved in principle by Lloyd’s Franchise Board, will be managed by Asta Managing Agency Ltd (“Asta”) under a turnkey arrangement.

AXIS Capital and Asta are working to secure the required approvals to commence underwriting business incepting on or after January 1, 2014. The syndicate is expected to have a stamp gross premium of approximately $180 million and will underwrite a diversified and balanced portfolio of specialist classes including marine, energy, aviation, terrorism, property, casualty and professional indemnity. AXIS Syndicate 1686 will be founded substantially on the transfer of an existing portfolio of business from AXIS Insurance’s London, Bermuda and Dublin operations.

Jack Gressier, CEO of AXIS Insurance, commented: “We are pleased that Lloyd's has approved in principle the formation of AXIS Syndicate 1686. As Lloyd’s is the pre-eminent market for specialty insurance business with exceptional worldwide reputation and licensing, our presence in Lloyd’s will be a key element to the further expansion of our global specialty underwriting platform. The new AXIS syndicate will be founded on a diversified and balanced portfolio of specialist classes in which AXIS Insurance has an established reputation. We look forward to working with Lloyd’s and are confident that our outstanding team of specialists will continue to deliver the AXIS tradition of underwriting excellence.”

The Active Underwriter will be Alistair Robson, who has served as Executive Vice President and Head of Global Property for AXIS Insurance’s International Division since 2011. He will be supported by a strong team of specialist underwriters and claims professionals who are experts in the new syndicate’s product offerings and business lines.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,768.17 +90.27 0.54%
S&P 500 1,961.08 +10.26 0.53%
NASDAQ 4,471.3720 +18.58 0.42%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs