Bermuda-based AXIS Capital Holdings has begun underwriting D&O...
Bermuda-based AXIS Capital Holdings has begun underwriting directors' and officers' (D&O) liability insurance and other professional lines for the UK and European markets.
The cover will be provided through AXIS Speciality Europe, primarily via its UK branch, AXIS Speciality London.
It will underwrite D&O, pension scheme liability (fiduciary liability), employment practices liability, and professional indemnity (miscellaneous professional liability) for publicly traded and privately-held companies outside the US.
The financial lines team will be led by Graham Evans, financial lines manager and supported by Colin Thompson, deputy financial lines manager and Dax Gulmohammed, senior financial lines underwriter.
AXIS Europe will concentrate on providing cover predominately in the UK, continental Europe, Australia and Asia, it said.
A £15m limit on liability will be set for professional lines coverage underwritten on a primary and excess basis.
AXIS Capital chief executive and president John Charman said: “AXIS has a substantial professional lines presence in the US and Bermuda, and we are pleased to expand our capabilities to meet the growing demand for D&O and [errors and omissions] E&O coverage worldwide.
“The addition of these products will complement AXIS Europe's existing book of specialty business and further enhance our position in the global insurance arena.”
The new capacity is separate from the professional lines capacity offered by the company's US-based subsidiaries and by AXIS Speciality in Bermuda.
