Axis has made a number of changes to the leadership team of its reinsurance division, following the appointment of Steve Arora as CEO earlier this year.
The Bermudian (re)insurer has named Jon Colello president of North America, having previously served as chief underwriting officer and president of Axis Re’s US operations.
Based out of New York, Colello’s remit will also include responsibility for the carrier’s Bermuda platform.
Peter Kiernan will continue in his role as President of Bermuda at Axis Re.
As part of the restructuring, Axis Re has also created a global markets division. This business unit be home to the carrier’s specialty and international business that operates through its Lloyd’s platform.
Rob Smart will head up the newly created division in the short term as interim president until a permanent leader is found.
Smart was previously head of international accident and health reinsurance.
Les Loh has been promoted to president of Asia and will be based in Singapore. Loh had previously served as deputy head of underwriting for the region. With Loh at the helm, Axis Re intends to grow its footprint in the region.
Megan Thomas, who joined the firm in April from AIG, will lead the newly created reinsurance products team as well as her continuing in her joining role of chief underwriting officer. She will be based in New York.
Rob Looney, who holds the roles of both chief finance officer and chief operating officer at Axis Re will remain in place. As will head of human resources Victoria Westerberg.
Latin America business will remain part of the EMEA division at Axis Re, which will be led by the existing president for the region Jan Ekberg, who will continue to be based in Zurich.
“Today, the industry is rapidly changing – new forces are reshaping the market, new risks are emerging, protection gaps are growing and there is a need for fresh solutions that solve client needs,” Arora said.
“As the market transforms, we believe in the long-term potential of our business, and it is our ambition to achieve a leadership position which will allow us to deliver significant value to our clients, our brokers, and our communities,” he added.
“This is the next step in the evolution of AXIS Re.”