Bermuda's AXIS Capital has announced a strategic reorganisation "to further strengthen the global operations of AXIS Insurance", starting with the appointment of Dennis Reding, currently that division's chairman, to the new position of chief operating officer of AXIS Capital, reporting to its CEO and President, John Charman.

The reorganisation will establish AXIS Insurance with the following four divisions managed across all geographic locations: Specialty Lines, Professional Lines, Capital Risk Solutions and AXIS Select Markets.

"The Specialty Lines division will include traditional property and casualty specialty insurance products," said a bulletin released by AXIS Capital. "The Professional Lines division will include directors' and officers', errors and omissions and other professional lines products. The Capital Risk Solutions division will include political risk, terrorism and aviation products. The AXIS Select Markets Division will include specialty insurance products largely targeting smaller commercial clients."

Charman commented: "We have a clear opportunity to enhance our position as a global leader in specialty lines insurance business. This strategic organisational repositioning of AXIS Insurance along areas of expertise regardless of geographic location furthers our ability to continue to achieve this objective in the segment, to continue to provide our international client base multi-product global solutions and to build our position in select new opportunities globally."

In conjunction with AXIS Insurance's strategic reorganisation, John Gressier has been appointed to succeed Reding as chairman of AXIS Insurance. He previously held the roles of deputy chairman of AXIS Insurance and CEO of AXIS Global Insurance. Marshall Turner has been appointed President of AXIS Insurance. He previously held the role of CEO of AXIS US Insurance.