PEMBROKE, Bermuda--(BUSINESS WIRE)--AXIS Capital Holdings Limited (“AXIS Capital” or “the Company”) (NYSE:AXS) announced today that John (“Jack”) Gressier, currently the Chief Executive Officer of AXIS Insurance, will become AXIS Capital’s new Chief Operating Officer effective April 1, 2014. Mr. Gressier will assume the responsibilities of retiring Chief Operating Officer Dennis Reding.
In his new role, Mr. Gressier will oversee the Company’s global insurance operations, including broker relationships and distribution management, reinsurance purchasing and corporate risk protection activities. In addition, he will also have responsibility for the Company’s growing Accident & Health business, which provides accident, specialty health and travel-related insurance and reinsurance solutions on a worldwide basis. Mr. Gressier will continue to be based in London and report to Albert Benchimol, President and Chief Executive Officer of AXIS Capital.
Mr. Reding, who has served as AXIS Capital’s Chief Operating Officer since 2007, has been named Senior Advisor to the Company and will continue as a member of AXIS Capital’s Executive Committee.
Peter Wilson, currently President of U.S. Insurance at AXIS Insurance, will succeed Mr. Gressier as Chief Executive Officer of AXIS Insurance, with overall responsibility for the general management and business results of AXIS Capital’s global property and casualty insurance operations. Mr. Wilson will continue to be based in New York and will report to Mr. Gressier.
Commenting on the appointments, Albert Benchimol, President and CEO of AXIS Capital, remarked, “Having worked closely with Jack for several years, I have developed tremendous confidence in his management prowess, leadership skills and underwriting expertise. His contributions as an architect of our international insurance platform have been invaluable to the growth and success of our organization. He is exceptionally well-suited to assume this critical role at AXIS Capital and take on responsibility for some of our most important strategic initiatives.”
Mr. Benchimol continued, “I am also very happy to announce Peter’s new role, and have every confidence in his ability to lead our insurance team globally in continued profitable growth. We are fortunate to have such a deep bench of talented executives such as Jack and Peter, who have the insurance expertise and track record of success that enables them to step into these roles and ensure the continued high performance.”
Commenting on Mr. Reding’s new role upon his retirement as COO, Mr. Benchimol stated, “Dennis Reding’s contributions during his tenure at AXIS Capital cannot be overstated. He established our Company’s U.S. operations and has been an integral part of our growth since he joined AXIS in 2002. We are fortunate for the time he served as our Chief Operating Officer, and more fortunate that we will have his continued presence at AXIS Capital as a Senior Advisor and member of our Executive Committee. I look forward to his ongoing counsel and support.”