Marsh & McLennan Companies' (MMC) new insurance and reinsurance organisation was approved by the Bermudan government's Insurance Advisory Committee last week.
AXIS Specialty spokesperson Teryce James said the subsidiary now hoped to start writing business in the next few months.
"The Bermudan board has approved us and we are in the process of raising the capital," she said.
She added chief executive officer John Charman would be providing some of the $1bn (£680m) funding for the new venture. She confirmed AXIS Specialty was also considering changing its name to Atlas (see Backchat, page 44).
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
