Bermuda-based Axis Capital Holdings Ltd has appointed Frank Romeo to lead Axis’s entry into the US marine cargo insurance market.
Axis said that the development of a marine cargo service that was tailored to the US market was part of a broader Axis strategy “to maximize its global footprint while providing increased value to its customers and the marketplace”.
Romeo will be responsible for building the programme and identifying growth opportunities, with a targeted product launch scheduled for H2 2023.
Together with the global marine cargo team, he will also focus on building a diversified portfolio, initially targeting transit, stock throughput and excess stock exposure risk. Romeo has more than 15 years of underwriting experience across US and multinational programmes. He joins from AIG, where he spent almost six years as a senior marine underwriting specialist and team lead. He will be based in New York and will report to Helen Steadman, Head of Marine Cargo, Global Markets.
“Since our inception in 2001, AXIS has been immersed in building specialist underwriting solutions for diverse and complex marine cargo risks globally,” said Ms Steadman. “The appointment of an underwriter of Frank’s calibre and experience as our first dedicated US-based marine cargo specialist is a very exciting step.”