Video: Three-Pronged Strategy Still Appropriate
Axis Capital President and CEO Albert Benchimol recently appeared on A.M. Best TV, saying that his company’s three-pronged strategy – focusing on insurance, reinsurance, and accident and health – is appropriate moving forward.
Mr. Benchimol said, “It’s appropriate, after all the works that we had done with integration with PartnerRe, to positively reflect on what we learned.
“That one thing that came out with it is that we’re absolutely convinced that our hybrid specialties strategy that – in which we are three businesses: Insurance, Reinsurance, and Accident and Health – is the appropriate strategy for Axis Capital and one that opposition us to above average varies performance across cycles.”
Axis Capital President and CEO Albert Benchimol on A.M. Best TV:
“The other big lesson that came out of it was the confirmation of the hard work and dedication of our team going through it. Their commitment to exploring new opportunities, facing challenges, and at the same time staying committed to client service was really outstanding; we’re very confident that our best days lay ahead.
“I believe in the current market conditions that we’ll see more consolidations over the next 12 to 24 months. I think that it will be likely motivated by some companies that do not have sufficient scale. The companies will be looking to diversify their portfolio, perhaps following the Axis hybrid model, and yet other companies will look at M&A as a way of opportunistically accelerating their growth.
“Now certainly we are focused on our growth. We’re dedicated to making ourselves a more relevant, a stronger insurance/reinsurer. And for that we will reinvest in our team, we will invest in technology, and invest in new products and geographies.”
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