Axis Re Expands Credit & Surety Team to Capitalize on Global Risk Landscape
HAMILTON, Bermuda - Axis Re, the reinsurance arm of Axis Capital Holdings Ltd., is strategically growing its international credit and surety team to address increasing global uncertainties and evolving market dynamics. The expansion comes as geopolitical events and economic shifts create heightened risk for businesses worldwide, presenting opportunities for specialized reinsurance solutions.
Driven by a proactive approach during recent global events – including the COVID-19 pandemic, the Ukraine-Russia war, and conflicts in the Middle east – Axis Re has focused on building a robust team, structure, and strategy to support clients navigating complex risks. This commitment contrasts with competitors who adopted a more cautious “wait-and-see” approach, positioning Axis Re to gain a competitive advantage.
“Our message to our customers is clear and consistent: we understand this risk and we want to support your business,” stated a company representative.
The company’s strategy centers on selective partnerships and a commitment to leveraging the broader Axis group’s global credit expertise. This allows Axis Re to deliver enhanced customer service and product offerings to its clients. Moreover, the firm is integrating artificial intelligence (AI) into its risk assessment processes, utilizing the technology to analyze financial statements and inform underwriting decisions.
“AI can analyse financial statements to support more informed decision-making and identify areas that underwriters may need to dig deeper into,” the representative explained, anticipating further integration of AI into future processes.
Despite technological advancements, Axis Re emphasizes that underwriting expertise and discipline remain paramount, especially within the current volatile market. The company believes this focus will be key to sustaining differentiation and continued success in the years ahead, while also noting a potential for banks to utilize risk participation agreements to optimize capital usage.
