Axis Capital

The headcount at the start-up now stands at around 40.

Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.

The carrier increased its cession by around 13% year over year.

The executive has also worked for Guy Carpenter during her 20-year career.

Axis Capital’s fee income from strategic capital partners grew 39% to $85mn in the year to 31 December 2024, up from $61mn the year prior, the firm’s Q4 earnings release said.

Strong growth in fee income builds on the favourable rating environment.

The company’s reinsurance premiums ceded fell by 58% to $149mn.

The firm also posted a 56% increase in fee income.

The executive will replace Habib Kattan, who joined the company last summer.

Sub-1% management fee and performance fee-only structures have evolved in ILS.

The rise in ceded reinsurance premiums written impacted net premiums written.

The firm is focusing on developing specialty offerings.