AXIS Specialty Ltd., the Bermuda-based insurer created by broker Marsh & McLennan Cos. Inc., announced it received an “A-” (Excellent) rating from A.M. Best. AXIS Specialty CEO and president John Charman said the rating reflects the company’s “compelling combination of a substantial, unencumbered capital base aligned with a proven strong and capable management and underwriting team.”
Marsh announced at the end of September that it was established AXIS Specialty, which will rank as a medium sized insurer in the Bermuda market. The company opened for business on Nov. 20 with $1.6 billion in capital, which was raised from investors through a private placement of its shares. The founding investor is Trident II LP, a private equity fund managed by MMC Capital, a unit of Marsh.
Topics AM Best
Was this article valuable?
Here are more articles you may enjoy.
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation From This Issue
