AXIS Capital enters US domestic construction insurance market
AXIS Capital Holdings plans to enter the US domestic construction insurance market following the appointment of an industry veteran.
Mike Cueman, who was previously vice president and head of US inland marine/builder’s risk at Liberty Mutual, will be head of construction-US for AXIS.
Bermuda-based AXIS said: “In this newly created role, Cueman will lead the Company’s entry into the domestic US construction market as AXIS continues to elevate and grow its underwriting capabilities and footprint through the development of new specialty insurance solutions tailored to customers’ specific needs.
“Cueman will be responsible for establishing a strong trading presence for our launch and profitable growth in the Construction Physical Damage market segment (Builders Risk) in the US.”
Cueman will report directly to global head of construction Steve Cross, and via a matrixed structure to Michael McKenna, head of North America. He will be based in New York.
“In specialist, often complex areas of risk such as construction, it is essential to have the underwriting expertise, leadership, and deep market knowledge to successfully expand into new markets,” said Cross. “Mike brings knowledge, skills, and drive that will help us to establish our US presence, develop our existing global construction portfolio, and elevate the specialty solutions we deliver to customers globally.”
Prior to joining Liberty, Cueman held senior underwriting and management roles at Zurich North America within the construction, engineering, and inland marine divisions.
Mark Gregory, head of global markets at AXIS, added: “The establishment of a presence in the US domestic construction market represents demonstrable progress in our strategy to harness new opportunities in lines of business and territories where we can add value for our customers and build profitable growth with distribution partners.
“Attracting and retaining high calibre individuals is essential to achieving our ambitions and we’re delighted to welcome Mike Cueman to AXIS."
