AXIS Capital, which provides speciality re/insurance services through its operating subsidiaries, has announced the launch of a portfolio underwriting unit.

The new entity is aimed at the multi-class portfolio business, which is placed in the London speciality insurance market.

AXIS said that its team has started underwriting portfolios of multi-class risks on a follow-line basis.

The new team will provide leadership and dedicated resources for future growth via portfolio underwriting, the company added.

AXIS Insurance International chief underwriting officer Alistair Robson said: “The formation of the portfolio underwriting unit reflects our keen knowledge of speciality risk and our support for the evolution of the London market.

“It also aligns with our desire to work with our strategic distribution partners to harness technology and smart underwriting to continue delivering the best solutions for our customers.”

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By GlobalData

Christine Cook, who joined AXIS as the head of portfolio underwriting in the firm’s global insurance division, will lead the new unit.

She joins from AXA XL and brings over two decades of underwriting experience in the London market.

Cook said: “Specialist underwriting is at the core of AXIS and it is essential that we continue to underwrite and deliver solutions on the most effective platforms and through the most efficient channels to provide the best service for our distribution partners and customers.

“The portfolio unit represents the strength and expertise of AXIS underwriting and of the London market’s ability to cover complex risks through collaborative and innovative approaches.”

In March 2021, AXIS’ speciality insurance arm AXIS Insurance joined forces with cyber security company Elpha Secure.