AXIS Capital Holdings has named Sara Farrup as its new head of global markets, a key move in the leadership transition announced in September 2024. This appointment signifies a new chapter for AXIS Capital’s global market strategy.
Farrup will report directly to AXIS president and CEO Vince Tizzio and will be a member of the executive committee. Based in London, she replaces Mark Gregory, who will transition to a strategic advisory role until March, ensuring a smooth handover of leadership. Farrup’s extensive international experience and leadership skills are expected to drive growth and innovation within the company.
Prior to joining AXIS, Farrup held significant leadership positions at Chubb for 13 years, including divisional president of Continental Europe and MENA. In this role, she oversaw property and casualty, accident and health, and consumer lines operations across 25 countries. Before Chubb, she gained valuable experience at RSA and Allianz Insurance, solidifying her expertise in the insurance industry. This diverse background positions her well to navigate the complexities of the global market.
“I feel privileged to join an already strong team within Global Markets and am confident that together we can build on the positive momentum that already exists while providing our talent with a strong and vibrant culture that is conducive to success,” Farrup commented.
Tizzio praised Farrup’s appointment: “In Sara, we have appointed an outstanding leader to guide our Global Markets business into its next chapter. Sara brings extensive specialty knowledge and a rich understanding of international markets, an established track record for success, and strong values that align with our culture.” This appointment underscores AXIS Capital’s commitment to strong leadership and strategic growth in the global market.
This leadership change follows a significant financial transaction for AXIS Capital. Last month, the company finalized a loss portfolio transfer (LPT) reinsurance agreement with Enstar Group, retroceding $2.3 billion of reinsurance segment reserves. This agreement allows AXIS to maintain claims control while granting Enstar certain administrative rights. The move is expected to streamline AXIS Capital’s operations and enhance its financial stability.
Farrup’s appointment as head of global markets marks a pivotal moment for AXIS Capital, signaling a renewed focus on strategic growth and innovation in the international insurance market. Her extensive experience and proven leadership capabilities are expected to drive the company forward in a dynamic and evolving landscape. This strategic leadership appointment, coupled with the recent LPT agreement, positions AXIS Capital for continued success in the global marketplace.
