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Since our inception in 2001, AXIS has become a significant player in the global reinsurance marketplace. AXIS reinsurance business consists of three major operations: AXIS Re Bermuda, AXIS Re Europe and AXIS Re U.S. We service the worldwide treaty reinsurance market from two locations, Bermuda and Zurich. In addition, we have a representative office in Singapore that serves the Asia Pacific region. AXIS Re Bermuda is responsible for the worldwide catastrophe treaty portfolio of AXIS outside of Continental Europe. Continental Europe is serviced by AXIS Re Europe which provides a broad array of products to the continental marketplace. In addition AXIS Re Bermuda handles a variety of other non-catastrophe short-tail products from ceding companies around the world. Requests for terrorism coverage from our worldwide client base are handled in Bermuda. AXIS considers all policy structures but we emphasize excess of loss over proportional structures. Where we underwrite proportional business, we insist upon occurrence limits to protect against runaway catastrophe aggregations. The reinsurance industry is being challenged to handle new risks such as terrorism, and to produce a more robust approach to handling of traditional risks, such as flood, windstorm and earthquakes. We believe we are at the forefront of dealing with those challenges. Our technical approach to underwriting with a heavy emphasis on the modeling of the exposures combined with rational commercial decision-making and a focus on service has allowed us to develop mutually beneficial relationships with a worldwide client base. AXIS is an exposure-driven underwriting company. We seek clients who value our technical approach to pricing and our focus on quality data. We believe that transparency in pricing, quality data and frank open dialogue with clients leads to sustainable relationships. We think this approach will continue to generate significant opportunities for AXIS in the global reinsurance arena. |
