S&P Sees No Effect on AXIS’ Ratings from Change in CFO’s
Standard & Poor’s Ratings Services announced that its ratings on Bermuda-based AXIS Capital Holdings Ltd. (A-/Stable/–) and its operating subsidiaries are not affected by the announcement of the appointment of Albert Benchimol as chief financial officer, effective Jan. 17, 2011.
S&P noted that Benchimol served as “Executive Vice President and CFO of PartnerRe Ltd. (A/Negative/–) from 2000 through October 2010. His retirement from PartnerRe will be effective Dec. 31, 2010.
“He will be replacing David Greenfield, who is leaving the company on Nov. 30, 2010, to pursue other interests. We don’t believe this management change is a concern given Mr. Benchimol’s extensive industry experience and strong track record, along with AXIS’s strong executive management team.”
Source: Standard & Poor’s
- Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases
- Warren Buffett’s PacifiCorp Now Faces $30 Billion Fire Claim Demand
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road