Axa XL
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Chris Caponigro will be responsible for expanding Axa XL’s product offering and investor base. -
Pricing settled at 7% across the Class A and Class B notes.
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The bond provides protection for North American named storms and earthquakes.
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At this week's Bermuda Climate Summit, speakers heralded the Island's future as a centre of excellence for climate-related innovation and risk transfer.
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The Eiffel Re cat bond will provide coverage for European windstorms.
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The carrier has announced several changes to its management committee before revealing its new strategic plan early next year.
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The biggest increases came from North American hurricane and earthquake coverage, where retentions rose from $350mn to $600mn.
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Tristan Abend has been with the Axa XL Reinsurance team for 10 years.
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Prior to his new role, Mark Twite served as global head of reinsurance finance at Axa XL.
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Axa also announced the launch of a group EUR1bn share buy-back scheme.
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Peter Kiernan replaces Simon Penney, who is moving to an analytics role.
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The reorganisation is one of the first major changes to the reinsurance arm since Nancy Bewlay became CEO of the division.
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