AXIS A&H CEO leaves amid reorganisation
Christopher DiSipio, CEO of AXIS accident & health (A&H), will be leaving AXIS as the Bermuda-based specialty re/insurer reorganises the business.
DiSipio will step down from his role effective April 1, 2018, and serve as an advisor to help guide the transition.
“We are deeply appreciative of Chris for his leadership in growing the A&H business from a start-up into a profitable $500 million business,” said AXIS CEO Albert Benchimol.
“We are proud of the achievements of the A&H team and look forward to building on them and continuing the profitable growth of these businesses.
“Chris has decided that he would like to begin a new chapter in his career and we wish him the absolute best in his future endeavors.”
AXIS is merging the accident & health business into its core insurance and reinsurance segments, according to a Jan. 23 press release. The move is expected to deliver synergies in combination with AXIS’ property/casualty (P&C) insurance and reinsurance businesses.
“A&H is a successful and established global business that we expect to continue to grow profitability and be an important contributor to AXIS,” Benchimol noted.
The reorganisation of the A&H operations is part of a wider reorganisation at the company aimed at strengthening the operating model as AXIS aims to become a "global leader in specialty insurance and reinsurance".
"Our goal is to further differentiate AXIS in the market by putting in place the tools and means to empower our underwriters, claims and actuarial teams, ultimately unleashing the power of our people to benefit all our stakeholders,” Benchimol said.
The reorganisation follows AXIS’ recent acquisition of Novae. In August 2017 the Novae Group shareholders approved the terms of the £478 million acquisition offer by AXIS.
“As we continue to integrate Novae into our business and grow our scale and relevance, now is the perfect time to make these enhancements to our operating model,” Benchimol noted.
AXIS is launching a global underwriting and analytics unit (GUA) with Eric Gesick named group chief underwriting officer.
GUA will partner with AXIS’ underwriting, claims and actuarial teams within the business segments, supporting them with resources and tools to deliver more value and services to clients and distribution partners. This will include leveraging enhanced data and analytics capabilities to help inform decision-making, applying insurtech, as well as optimizing group portfolio management and capital allocation.
“Through our Global Underwriting and Analytics unit, we are creating a Data and Analytics Center of Excellence that builds upon our philosophy of coupling human ingenuity with powerful tools and insights,” Benchimol explained.
“GUA will enhance our ability to deliver disciplined underwriting and offer even more value to our clients and partners.”
Gesick, who currently serves as chief risk and actuarial officer, will continue to report to Benchimol. He has been a member of AXIS’ management team since joining the company in 2012. His current responsibilities will be handled by Daniel Draper, who has been promoted to chief actuary, and Carol Collins, who has been appointed chief risk officer.
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