AXIS Capital hammers out terms with new CEO at $2.6m plus vesting
AXIS Capital made good on a vow to put newcomer Vincent Tizzio (pictured) atop its operations, signing the newcomer CEO to a $2.6 million pay and bonus deal plus long-term vesting.
Tizzio has signed to a $1 million base salary with a bonus plan at a target 160% of that sum.
Tizzio likewise joins the stock incentive program and will receive a promotional equity award valued at $2.7 million, consisting of 40% time-based restricted stock units and 60% performance stock units.
Tizzio will step up to replace the retiring Albert Benchimol as of the GM early May.
Tizzio was brought in early in 2022, then promoted quickly to CEO of Specialty Insurance and Reinsurance just as Axis moved into the major overhaul that saw it dump its property reinsurance business outright to the benefit of specialty and casualty lines.
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