AXIS Capital Holdings announced that Albert A. Benchimol will step down from his role as president and chief executive officer on May 4, 2023. He will continue with AXIS as a strategic advisor and retire at the end of 2023.

Benchimol 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. The two will partner to ensure a smooth leadership transition.

Benchimol joined AXIS Capital Holdings as executive vice president and chief financial officer in 2011 and was appointed to his current role in 2012. Before AXIS, he was at Partner Re Ltd., serving as EVP and CFO, as well as CEO of the Capital Markets Group business unit. Prior to that, he was SVP and treasurer at Reliance Group Holdings for 11 years and was previously with the Bank of Montreal from 1982 to 1989. He sits on the Insurance Development Forum Steering Committee and is an officer of the Association of Bermuda Insurers and Reinsurers (ABIR).

“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.

Tizzio joined AXIS in January 2022 as senior advisor – Insurance Market Strategy and future Insurance CEO, before having his role expanded in June 2022 to CEO, Specialty Insurance and Reinsurance. Prior to joining AXIS, he served as executive vice president and head of Global Specialty at The Hartford, where he led a multibillion-dollar business focused on delivering a broad array of specialty products through wholesale and retail channels. Before that, he served for seven years as president and CEO of Navigators Management Company, leading the organization until its acquisition by The Hartford in 2019. He also worked at Zurich Financial Services and AIG, serving in progressive senior leadership roles within both companies.

Source: AXIS Capital Holdings