New CEO at Axis Capital plots taking trimmed offer into higher growth

Axis Capital sees “plenty of opportunity to grow” despite its exit from property reinsurance and can take its primary insurance and specialty reinsurance focus to a plethora of new markets and clients worldwide, newly appointed CEO Vincent Tizzio (pictured) said of his rough outlook for the group.

“We see plenty of opportunity to grow our business,” Tizzio said during his first-ever quarterly earnings call with analysts since being appointed to his post.

He's plotting what he calls a variety of internal programmes designed to “increase our pace of play and enhance our operating infrastructure and execution so we can further take advantage of opportunities in our chosen target market.”

Distribution channels will be a key focus of a new Axis strategy likely to go on fuller display at an investor day soiree to be scheduled in early 2024.

Axis sees its growth in “leveraging existing product capability across more geographies” and into “new customer segments,” Tizzio told analysts.

Distribution partners may be more fully enabled to draw on “the full breadth of our product capabilities,” he said.

Some such internal programmes have already been launched. Tizzio cited a programme “how we work” designed to add agility and speed to market on deals which he claims has generated high-level enthusiasm among the underwriting ranks. Expect heavy doses of data and analytics moving forward, he suggested.

While Tizzio and team will put that and other initiatives on display at the early 2024 investor day, specific financial targets may not be a part of the mix, he warned.

The transition to new management need not result in a massive review of reserve adequacy, Tizzio added under questioning.

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