PEMBROKE, Bermuda--(BUSINESS WIRE)--AXIS Insurance, a division of AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS), announced today that Chief Claims Officer David Hayward will retire in March 2020 and will be succeeded by Michael Baumel, current Head of North American Claims. Following the six-month transition period, Mr. Baumel will assume the Chief Claims Officer role. He will join the AXIS Insurance leadership team and report directly to CEO Peter Wilson.
Mr. Hayward will retire from AXIS following a career that has spanned more than thirty years, with the past seventeen years spent at AXIS. He has played an instrumental role in building the Company’s award-winning global claims management function.
“Dave’s contributions to AXIS cannot be understated. He has played a fundamental role in shaping our claims management strategy and he conceptualized and implemented many of the approaches that have helped us establish a Claims function that is widely recognized as one of the best in the specialty insurance industry,” said Mr. Wilson. “We have a great successor in Mike. During his more than four years with AXIS, Mike has established himself as a respected leader, a trusted partner to our clients and an individual who embodies our commitment to delivering exceptional service.”
Mr. Baumel has been with AXIS Insurance for more than four years, serving as the Head of North American Claims and working directly with Mr. Hayward. He has held multiple leadership roles in claims and in underwriting throughout his career, both in the United States and in Europe. This includes serving as Senior Vice President, Excess Casualty Claims, at ACE and multiple Claims Vice President positions at CNA. He began his insurance career at GE where he served as a Global Claims Special Services Leader. Prior to entering the insurance industry in 1999, Mr. Baumel practiced law in Chicago for 10 years, mostly as a public prosecutor. Mr. Baumel graduated from DePaul College of Law in 1989.
“This is a bittersweet moment for me. I have no doubt that Mike will be a tremendous Chief Claims Officer. Therefore, my decision to retire is made that much easier because I know that I’ll be leaving our Claims team in such capable hands,” said Mr. Hayward. “We have a tremendous Claims team, and I take great pride in the work that we’ve done to build a leading Claims function. I look forward to seeing the practice continue to flourish under Mike’s leadership.”
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at June 30, 2019, of $5.6 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Latin America and the Middle East. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A+" ("Superior") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Follow AXIS Capital on LinkedIn and Twitter.
About AXIS Insurance
AXIS Insurance – the insurance business segment of AXIS Capital Holdings Limited (NYSE: AXS) – provides Property & Casualty, Professional Lines, Terrorism, Marine, Energy, Aviation, Credit & Political Risk, Environmental, Accident & Health coverages and other customized insurance solutions. Our products are offered through our distribution partners, which include wholesale brokers, retail brokers and designated managing general agents/underwriters (“MGAs”/”MGUs”) in the U.S. and abroad. Coverages are backed by the financial strength and security of the AXIS Insurance Companies, rated “A+” (Strong) by Standard & Poor’s, and “A+” (Superior) by A.M. Best. For more information, visit our website at www.axiscapital.com/insurance.