AXIS unveils leadership transition as Benchimol eyes retirement
AXIS Capital’s long-time CEO Albert Benchimol will step down from his role on May 4, 2023, timed to the Company’s Annual General Meeting (AGM), and will retire at the end of 2023.
He 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 2023 as a strategic advisor.
Tizzio joined AXIS in January of 2022 as senior advisor – Insurance Market Strategy and future Insurance CEO, before having his role expanded in June 2022 to CEO, Specialty Insurance and Reinsurance, where he oversees all business lines and front-end operations.
Prior to joining AXIS, Tizzio served as executive vice president and head of global specialty at The Hartford. Previously, he had served for seven years as president and CEO of Navigators Management Company. Prior to this, he worked at Zurich Financial Services and AIG.
Benchimol was president and CEO of AXIS for a decade. He was appointed president and CEO of AXIS in May 2012 and has served as director since January 2012. He joined the Company as executive vice president and CFO in January 2011.
Prior to this, he was CFO of PartnerRe and CEO of PartnerRe's Capital Markets Group business unit from June 2007 through September 2010. Prior to joining PartnerRe, Benchimol was senior vice president and treasurer at Reliance Group Holdings, for 11 years and was previously with the Bank of Montreal from 1982 to 1989.
“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.”
Tizzio added: “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.”
