AXIS Capital Holdings has appointed Sara Farrup as the head of global markets, part of the company’s planned leadership transition announced in September 2024.
Farrup will report to AXIS president and CEO Vince Tizzio and join the executive committee.
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In the new role, Farrup is operating out of London, replacing Mark Gregory, who will remain involved as a strategic advisor until March.
Farrup most recently worked at Chubb, and before that, held managerial positions at RSA and Allianz Insurance.
During her 13-year stint at Chubb, she served in multiple leadership positions including divisional president of Continental Europe and MENA, where she was tasked with handling property and casualty, accident and health, and consumer lines operations across 25 countries.
Farrup said: “I feel privileged to join an already strong team within Global Markets and am confident that together we can build on the positive momentum that already exists while providing our talent with a strong and vibrant culture that is conducive to success.”
Commenting on the appointment, Tizzio stated: “In Sara, we have appointed an outstanding leader to guide our Global Markets business into its next chapter. Sara brings extensive specialty knowledge and a rich understanding of international markets, an established track record for success, and strong values that align with our culture.”
The company made headlines last month after signing a loss portfolio transfer (LPT) reinsurance agreement with Enstar Group.
Under the agreement, AXIS will retrocede $2.3bn of its reinsurance segment reserves to Enstar.
While AXIS will maintain control over claims relating to the covered reserves, Enstar will be granted certain administrative rights.
