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Re/insurer AXIS Capital's accident & health (A&H) chief executive officer Christopher DiSipio is stepping down from his role, effective April 1, 2018.
The company is merging its accident & health business into its core insurance and reinsurance segments, according to a Jan. 23 press release. The move is expected to deliver synergies in combination with AXIS’ property/casualty (P&C) re/insurance businesses.
DiSipio has served as the CEO of AXIS A&H since February 2009. Prior to joining AXIS, he had been with the Chubb Corporation since 1999, most recently as the chief operating officer and senior vice president for life, accident & health. DiSipio began his insurance career in 1984 as an underwriter with CNA Insurance Company, where he helped start and subsequently led the company’s international accident & health division.
“We are deeply appreciative of Chris for his leadership in growing the A&H business from a start-up into a profitable $500 million business," said AXIS CEO Albert Benchimol.
"We are proud of the achievements of the A&H team and look forward to building on them and continuing the profitable growth of these businesses. Chris has decided that he would like to begin a new chapter in his career, and we wish him the absolute best in his future endeavors.
"A&H is a successful and established global business that we expect to continue to grow profitability and be an important contributor to AXIS."
The reorganisation of the A&H operations is part of a wider reorganisation at the company aimed at strengthening its operating model.
The company said that the realignment is also expected to create more opportunities for AXIS’ A&H teams to leverage customer and partner relationships across the business, better tap into existing client networks, and help ensure seamless delivery of A&H and more traditional P&C (re)insurance products to AXIS’ international clients.
AXIS, Accident & health, Albert Benchimol, Christopher DiSipio, US