Bermuda-based Axis Capital Holdings Limited has launched a new policy designed to encourage diversity in their business suppliers.

Axis is working to ensure the engagement of certified diverse business enterprises in their procurement process.

Albert Benchimol, president and CEO of Axis, said: “Our commitment to advancing diversity, equity and inclusion extends beyond our practices within Axis and also applies to how we manage our supplier network.

“Our focus on engaging diverse business enterprises both aligns with our values and should help create business partnerships that enrich our knowledge and perspective, and ultimately advance our strategic priorities.”

Axis said the supplier diversity policy aims to broaden the Axis pool of suppliers to include for-profit diverse business enterprises based in the United States or Canada that are at least 51 per cent owned, controlled and operated by one or more of the following groups: disabled, LGBTQ+, minority, veterans, service-disabled veterans or women.

Qualifying suppliers are also required to provide and maintain a valid certification of diverse-ownership status.

Tony Filippone, chief procurement officer of Axis, said: “By increasing business opportunities for diverse suppliers, we can enhance our products and services and provide more value to our customers. We look forward to partnering with DBEs that share our passion for client service.”

The company said the launch of the supplier diversity policy is the latest in a series of actions Axis is taking as part of a broader corporate citizenship programme, which aims to address environmental, social and governance issues, with environment and diversity and inclusion as core focus areas.