Risk Landscape is 'Fairly Perilous' Says AXIS CEO Vince Tizzio
AXIS CEO Vince Tizzio describes the global risk landscape as perilous, specifically in conflict-exposed marine areas like the Strait of Hormuz. Insurance pricing has increased 30% to 40% over the past year. Despite higher rates, demand remains strong and the company continues to take on new risks.
Vince Tizzio, CEO of top global specialty insurer AXIS, said that his company sees the risk landscape as 'fairly perilous,' specifically in the marine landscape like the Strait of Hormuz or other areas exposed to conflict. Tizzio said that pricing for policies has increased 30% to 40% from the rates AXIS was charging a year ago as demand remains high and the company is willing to still take on risk. (Source: Bloomberg)
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