Former AXA XL duo secure regulatory consent to launch with $120m line
Former AXA XL executive Jonathan Beck (pictured) and underwriter Richard Spurrier have received regulatory consent to launch a new Specialty Insurance Cell - ANT Exceptional Risks, domiciled in Guernsey which will initially focus on Fine Art, Jewellery and Classic Car exposures.
Beck said: “We’ve worked closely with our reinsurance partners over the last few months, and it’s testament to the support they have shown to us that we will be able to deploy a maximum line size of $120 million across our Fine Art portfolio. There is a real need for our capacity which can be deployed in an adequately priced rating environment.”
Market veteran Beck was executive chairman of AXA XL Services and XL Insurance Guernsey and responsible for the establishment of the first AXA ILS vehicle in Guernsey. He worked for AXA XL from 2014, prior to which he spent time with CNA Hardy, QBE and Hiscox spanning back to 1999.
Spurrier was a Specialty Risks Underwriter for XL Insurance Guernsey, focussing on Kidnap & Ransom and Fine Art risks. Prior to this, he worked for Artex (Arthur J Gallagher) on the Captive Market team supporting Hiscox Crisis Management. In addition, he has broad experience structuring Alternative Capital Vehicles for a variety of market leading firms.
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