AXIS Capital creates new Miami-based subsidiary

AXIS Capital Holdings has created AXIS Specialty Underwriters, based in Miami (AXIS Miami), to be its Latin American and Caribbean (LAC) regional coverholder for AXIS Syndicate 1686.

AXIS Miami will operate within AXIS Insurance’s International Division and will provide direct and facultative reinsurance coverage to the LAC market, focused on energy and property.

The launch of AXIS Miami, combined with AXIS Re Brazil’s existing Sao Paulo-based representative office for treaty business, allows it to deliver a full range of facultative and treaty reinsurance solutions in the LAC region. AXIS Re Brazil’s Sao Paulo representative office will continue to service treaty reinsurance clients throughout the LAC region, under the direction of AXIS Re Zurich.

Latin American reinsurance industry veteran Eduardo Hussey will lead AXIS Miami as chief underwriting officer, Latin America and Caribbean. Hussey has 20 years’ experience in the Latin American insurance and reinsurance sector, and joins AXIS from Marsh, where he held a number of regional senior-level roles.

“The launch of AXIS Miami is a significant milestone in our global strategy to provide leading specialty risk solutions in every region in which our clients operate,” said Mark Gregory, CEO of AXIS Insurance’s International Division. “In Eddie Hussey, we’ve added a proven market expert who will help enhance the services that we offer to our clients while growing our global underwriting platform in the Latin American and Caribbean market.”

Added Hussey, “I’m pleased to join such a highly respected specialty underwriting firm as AXIS. Working alongside our colleagues at AXIS Syndicate 1686, AXIS Miami will bring us closer to our clients in the LAC region to provide them with enhanced services and high-quality facultative reinsurance solutions.”