Bermuda-based specialty insurer AXIS Capital Holdings Limited said that Jack Gressier, chief operating officer, plans to retire in a year, after 12 years with the firm.
The company said it does not intend to replace Gressier and that his responsibilities will be shared by other executives. Effective immediately, Gressier’s current responsibilities will be distributed among Peter Wilson, chief executive officer of AXIS Insurance; Christopher DiSipio, chief executive officer of AXIS Accident & Health; and Richard Strachan, chief operations officer.
Wilson and DiSipio will now report directly to Albert Benchimol, president and CEO of AXIS Capital.
Strachan will assume responsibility for both ceded reinsurance and broker relationship management, and he will continue to report to Benchimol.