Subject to regulatory approval, McCormick will become CEO of the arm and will be responsible for its Zurich branch. He will also join the board of directors of AXIS Specialty Europe SE as a non-executive director.
In this role, McCormick will be responsible for ARe and the legal entity aspects of its Zurich branch. ASE is AXIS Capital’s specialty insurance legal entity domiciled in Ireland and regulated by the CBI, with branches in London, Brussels and Amsterdam.
Most recently, McCormick was co-head of specialty pricing for AXIS Re, where he helped to develop and oversee the business segment’s specialty reinsurance pricing unit.
McCormick will continue to be based in Dublin. He succeeds Helen O’Sullivan, who will remain CEO and a director of ASE.
Megan Thomas, chief underwriting officer of AXIS Re, said: “Mark brings extensive experience in the global reinsurance industry, as well as the composure and business acumen that is necessary to manage a highly regulated legal entity such as AXIS Re SE.
“He has been with AXIS for 10 years and possesses a deep understanding of our organisation and operations.”