Industry veteran and AXIS CEO Benchimol to retire in 2023
Insurance and reinsurance industry veteran Albert Benchimol has decided to retire in 2023 following a remarkable career spanning more than four decades, including ten years as president and CEO of AXIS Capital Holdings. The company’s new chief executive will be a newcomer who joined AXIS earlier this year from The Hartford.
AXIS CEO Benchimol will step down from his role on May 4 at the time of its Annual General Meeting (AGM), and will retire at the end of 2023.
Benchimol will be succeeded as president and CEO by Vincent Tizzio, who currently serves as CEO, specialty insurance and reinsurance, overseeing all business lines and front-end operations for AXIS.
Benchimol will continue with AXIS through year-end as a strategic advisor to the company. Both Benchimol and Tizzio will partner to ensure a smooth leadership transition.
Under Benchimol’s leadership, AXIS led a multi-year transformation programme, repositioning the Company in the specialty underwriting space while driving improved business results.
“We are indebted to Albert for his leadership, which has spanned more than a decade. Under Albert’s direction, AXIS has had a remarkable transformation, refocusing itself as a specialty leader while building a balanced and resilient portfolio and placing the Company on a pathway for lasting profitable growth,” said Henry Smith, chair of the AXIS Board of Directors.
“Albert has also been a great culture leader, growing a workplace environment that is both performance and people-oriented, and under his guidance, AXIS has become a best place to work in the industry. Underpinning all of this is a customer-service mindset that permeates every aspect of the Company’s operations, resulting in strong and enduring bonds with brokers and customers – a testament to Albert’s legacy.”
Benchimol said: “Serving as President and CEO of AXIS has been the most fulfilling and rewarding experience of my professional career. I’m grateful to my fellow colleagues – past and present – for their support, commitment, and dedication, and I’m incredibly proud of what we’ve accomplished together.
“Even with all the progress that’s been achieved, I believe AXIS has only begun to scratch the surface of what’s possible. I have enormous confidence in Vince and his leadership, and I have comfort knowing that I am leaving the Company in very strong hands.”
Smith added: “We couldn’t be more excited to announce Vince’s appointment as the future President and CEO of AXIS. During his first year with the Company, Vince has made an impressive impact, challenging AXIS to build on its progress by driving further profitable premium growth for its specialty insurance business, identifying exciting new avenues to grow the business, and helping us to become even more agile and efficient in our front-end operations. In addition, Vince is an energizing and committed people leader who will continue to help our team and company unlock their significant potential.”
Tizzio commented: “It is a privilege and an honor to succeed Albert as President and CEO of AXIS and to have an opportunity to build upon the great work that he and the team have led. My experiences in my first year at AXIS only further intensified my belief that there’s tremendous opportunity to further profitably grow the business and deliver even greater value to our employees, shareholders, and customers. Moreover, in today’s market environment where brokers and insureds are looking for specialized insurance and risk solutions, we were literally built for this moment.”
Benchimol added: “Vince is deeply committed to our strategy of advancing AXIS as a leader in specialty. In a short period of time, he’s made an enormous positive impact, mobilizing the team to even further elevate our ambitions, leverage our extensive market knowledge and relationships, while delivering added value to our customers and the market.”
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