AXIS Capital Announces INSEAD Endowment

May 26, 2022

AXIS has endowed $250,000 to INSEAD in order to create the Michael A. Butt Fund for Business & Society.

A spokesperson said, “AXIS Capital Holdings Limited announced today a $250,000 endowment to INSEAD, the business school for the world, to create a research fund on behalf of former AXIS Chair of the Board Michael Butt, OBE. The Michael A. Butt Fund for Business & Society by AXIS Capital will support the work of the Hoffmann Global Institute for Business and Society.”

Albert Benchimol, President and CEO of AXIS Capital, said, “Michael is one of the [re]insurance industry’s true trailblazers and his impact goes far beyond his many professional accomplishments. Michael is a leader who lifts people up and throughout his career he mentored and empowered countless professionals.

“Michael leveraged his influence as an industry leader to advocate for insurance to play a great role in creating a more sustainable world. With this endowment, our aim is to build on Michael’s legacy and inspire and enable a new generation of [re]insurance professionals to make a positive impact.”

The spokesperson said, “The Hoffmann Global Institute for Business and Society is at the forefront of aligning INSEAD with the UN Sustainable Development Goals and aspires to make INSEAD a sustainable school. To achieve this, the Institute supports research on business and society and engages with future leaders, the global alumni community and external partners.”

Ilian Mihov, Dean of INSEAD and Professor of Economics, said, “With research focused on the intersection of business and society, the Hoffmann Global Institute for Business and Society aims to bring fresh perspectives and innovative solutions to the most intractable global issues that threaten our future.

“I am grateful to AXIS and to Michael Butt for their extraordinary support which allows us to accelerate INSEAD’s ambition to develop business as a force for good.”

The spokesperson said, “Mr. Butt earned an M.B.A. from INSEAD, Fontainebleau, France and served as a member of the INSEAD Board, Fontainebleau, France from 1982-2010. He was also Chairman of the INSEAD International Council from 1988-1991 and Chairman of the Development Capital Campaign from 2002-2009, later becoming a member of the Advisory Board. Mr. Butt retired as AXIS Chairman of the Board in 2020.”

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