The UK's Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have approved the deal.
The industry veteran is credited for his pivotal role in building AXIS.
The insurer has hired senior executives from Chubb European Group and RSA.
Their new entity, N2G Worldwide, will open for business in the second quarter of 2020.
Organisation launches website to make phase 1 updates more accessible.
The shares acquired under the 2019/2020 share buy-back programme are to be retired.
James Anderson has resigned from the company to pursue other opportunities.
The executive has previously worked with Willis, WAIG, Allianz Global Corporate Specialty.
The run-off specialist continues to grow following a RITC transaction in January.
The move follows a strategic review that highlighted a high cost base for the office.