Axis Re, the reinsurance arm of global re/insurer AXIS Capital Holdings Limited, has hired Jason Busti from Swiss Re and appointed him as its new President, North America.
Busti fills a hole left in the AXIS Re leadership team in the United States, after Jon Colello left the firm to move to PartnerRe earlier this year, as reported by our sister publication at the time.
In his role at AXIS, Busti will oversee AXIS Re’s North America treaty reinsurance business. This includes the United States, Bermuda and Canadian marketplaces.
Busti, who is based in New York and spent 22 years at Swiss Re in a range of underwriting and sales management positions, will also become a member of the Reinsurance Leadership team and will report to AXIS Re CEO Steve Arora.
“Jason is a highly accomplished and widely respected reinsurance leader who possesses the right mix of technical skills, leadership capabilities and broker market experience,” Arora said. “His approach and perspective are well aligned with the performance, people and client-centric cultures that we are building across AXIS Re.”
As well as the hiring of Busti, AXIS Re has also announced that existing employee Roman Romeo has assumed the role of Head of Property, Bermuda.
Romeo transitions from his previous role as Deputy Chief Underwriting Officer at AXIS Specialty Limited, into the property focused role in the Bermuda market at AXIS Re.
As a heavy user of third-party capital within its reinsurance business, in ceding risk to ILS investors and funds, both of these hires are taking key roles that will work at the intersection of traditional and alternative markets.