AXIS Capital Appoints Experienced Leader to Head US Marine Cargo Division

AXIS Capital Holdings has recently appointed Frank Romeo to spearhead its foray into the US marine cargo insurance market. With a wealth of experience in marine insurance, Romeo will be based in New York and will report to Helen Steadman, the head of marine cargo, global markets. His main task will involve developing a customized marine cargo offering for the US market, with a targeted product launch planned for the latter half of 2023.

Romeo will also focus on establishing strong distribution partnerships within the domestic market while working closely with the global marine cargo team to build a diverse portfolio, initially focusing on transit, stock throughput, and excess stock exposure risk. Romeo comes to AXIS Capital with over 15 years of underwriting experience in marine insurance, having previously worked at AIG as a senior marine underwriting specialist and team lead. "We are thrilled to have an underwriter of Frank's caliber leading our US-based marine cargo team," said Steadman.

"This appointment marks an exciting step in our journey to provide specialized underwriting solutions for complex marine cargo risks globally." Mark Gregory, head of global markets at AXIS Capital, expressed his excitement about the company's expansion into the US marine cargo market, emphasizing the importance of exploring new opportunities to add value for customers and drive profitable growth with distribution partners. Romeo joins a growing team at AXIS Capital, following recent appointments of key leaders like Lori Bailey as global head of growth within the cyber and technology division and Rebecca O'Kill as chief data and analytics officer.

The company remains committed to driving innovation and growth across various lines of business and territories.