Axa XL has been crowned Bermuda Insurer of the Year by Reactions magazine for the third time in the past four years.

The recognition came during the insurance industry publication’s North America Awards ceremony

The panel said that Axa XL earned the award because it had demonstrated excellence in a number of ways, including underwriting results, improved performance and business growth, which particularly impressed the judges.

Reactions editor-in-chief Shawn Moynihan said: “Congratulations to Axa XL for winning the Bermuda Insurer of the Year award. The Island has long stood out as an important area of the market, with many insurance companies having a presence on it and the panel felt that in 2019 Axa XL led its peers in a number of important categories.”

Patrick Tannock, chief executive officer of Axa XL’s Bermuda Insurance Operations, said: “It’s great to be acknowledged for a third time as the Bermuda Insurer of the Year. This award helps to validate the hard work and contributions that our colleagues consistently make in the Bermuda market and beyond.

“I want to thank all of our colleagues for their efforts as this award is about all of us.”

“Although this is a ‘company’ award, companies don’t run themselves, people do, and we have some of the best talent in the industry.

“I believe we have one of the most diverse and inclusive cultures and demographics in the industry and this validates all the data about diverse companies performing in the top quartile in the industry.

“More importantly, our team authentically care about each other, treat each other with respect, and collectively aim to be solution oriented, user friendly and relentlessly focused on execution excellence.

“We are honoured to be recognised as a leader in the Bermuda market. We know that brokers and our clients have choices and we work hard every day to validate their trust.

“This is not an endpoint, but a milestone in our trusted partnership and we are committed to continue to provide value in offering high quality service and innovative solutions to our clients and brokers.”

The Reactions North America Awards honour the industry’s leading individuals, underwriting companies, broking firms and service providers for their achievements in the North America re/insurance market during the past calendar year.

The winners were determined with the help of an expert judging panel that included:

• Jean-Paul Conoscente, chief executive officer, SCOR Global P&C

• Steven Levy, CEO — Reinsurance, Munich Re America

• Rory Cline, CEO, Ethos

• Dave Sampson, CEO, American Property Casualty Insurance Association

• Mike Morrissey, chief executive, International Insurance Society

• Michael Consedine, chief executive, National Association of Insurance Commissioners

• Frank Nutter, president, Reinsurance Association of America

• Howard Mills, independent corporate director, former superintendent, New York Insurance Department.