Bermudian-based Axis Capital Holdings Limited has launched a portfolio underwriting unit which targets multi-class portfolio business that is placed in the London specialty insurance market.

Axis said the portfolio team is now actively underwriting portfolios of multi-class risks on a follow-line basis, in conjunction with trusted and proven lead carriers.

The unit is led by Christine Cook, who has joined Axis in the newly created role of head of portfolio underwriting in the company’s international insurance division.

Ms Cook has more than 20 years of underwriting experience within the London market and joins Axis from Axa XL, where she most recently served as head of alternative distribution for UK and Lloyd’s.

Axis said the portfolio team will provide leadership and dedicated resource to target future growth through a portfolio underwriting approach, combining technology and analytics with the specialist underwriting capabilities within Axis, to build an efficient, data-driven and relationship-led portfolio of multi-class specialty insurance risks.

This will include both current and new classes of business that align with the Axis risk appetite and performance targets.

Alistair Robson, chief underwriting officer of Axis Insurance International, said: “The London specialty insurance market today is embracing a tiered underwriting model whereby traditional open market business is increasingly placed with proven, lead underwriters at one end of the spectrum, and low-touch, follow and portfolio-based capacity at the other end.

“The formation of the portfolio underwriting unit reflects our keen knowledge of specialty risk and our support for the evolution of the London market. It also aligns with our desire to work with our strategic distribution partners to harness technology and smart underwriting to continue delivering the best solutions for our customers.

“Christine brings a wealth of knowledge and experience to Axis that will be invaluable as we address this evolution in the London market, and I’m delighted to welcome her to the team.”

Ms Cook said: “Specialist underwriting is at the core of Axis and it is essential that we continue to underwrite and deliver solutions on the most effective platforms and through the most efficient channels to provide the best service for our distribution partners and customers.

“The portfolio unit represents the strength and expertise of Axis underwriting and of the London market’s ability to cover complex risks through collaborative and innovative approaches. I’m pleased to join Axis to support this exciting expansion of its specialist underwriting capabilities.”