Benchimol To Retire, Tizzio Named Future CEO
AXIS Capital Holdings Limited announced that Albert Benchimol will retire at the end of 2023, and he will be succeeded as President and CEO by Vincent Tizzio.
A spokesperson said, “AXIS Capital Holdings Limited [AXIS] announced today that, following a career in [re]insurance and banking that has spanned more than four decades – including ten years as President and CEO of AXIS – Albert A. Benchimol will step down from his role on May 4, 2023, timed to the Company’s Annual General Meeting [AGM], and will retire at the end of 2023.
“He will be succeeded as President and CEO by Vincent C. Tizzio, who currently serves as CEO, Specialty Insurance and Reinsurance, overseeing all business lines and front-end operations for AXIS. Mr. Benchimol will continue with AXIS through year-end as a strategic advisor to the Company. In the months ahead, Mr. Benchimol and Mr. Tizzio will partner to ensure a smooth leadership transition.
“Under Mr. Benchimol’s guidance, AXIS led a multi-year transformation program, repositioning the Company as a leader in specialty underwriting while driving improved business results and creating a strong foundation for the future.”
“We are indebted to Albert for his leadership, which has spanned more than a decade. Under Albert’s direction, AXIS has had a remarkable transformation, refocusing itself as a specialty leader while building a balanced and resilient portfolio and placing the Company on a pathway for lasting profitable growth,” said Henry Smith, Chair of the AXIS Board of Directors.
“Albert has also been a great culture leader, growing a workplace environment that is both performance and people-oriented, and under his guidance, AXIS has become a best place to work in the industry. Underpinning all of this is a customer-service mindset that permeates every aspect of the Company’s operations, resulting in strong and enduring bonds with brokers and customers – a testament to Albert’s legacy.”
“Serving as President and CEO of AXIS has been the most fulfilling and rewarding experience of my professional career. I’m grateful to my fellow colleagues – past and present – for their support, commitment, and dedication, and I’m incredibly proud of what we’ve accomplished together,” said Mr. Benchimol. “Even with all the progress that’s been achieved, I believe AXIS has only begun to scratch the surface of what’s possible. I have enormous confidence in Vince and his leadership, and I have comfort knowing that I am leaving the Company in very strong hands.”
Added Mr. Smith, “We couldn’t be more excited to announce Vince’s appointment as the future President and CEO of AXIS. During his first year with the Company, Vince has made an impressive impact, challenging AXIS to build on its progress by driving further profitable premium growth for its specialty insurance business, identifying exciting new avenues to grow the business, and helping us to become even more agile and efficient in our front-end operations. In addition, Vince is an energizing and committed people leader who will continue to help our team and company unlock their significant potential.”
“It is a privilege and an honor to succeed Albert as President and CEO of AXIS and to have an opportunity to build upon the great work that he and the team have led,” said Mr. Tizzio. “My experiences in my first year at AXIS only further intensified my belief that there’s tremendous opportunity to further profitably grow the business and deliver even greater value to our employees, shareholders, and customers. Moreover, in today’s market environment where brokers and insureds are looking for specialized insurance and risk solutions, we were literally built for this moment.”
