The former duo AXA XL obtains the authorization to launch ANT Exceptional Risks
Former AXA XL executive Jonathan Beck and underwriter Richard Spurrier have received regulatory approval to launch a new specialist insurance unit – ANT Exceptional Risks.
Based in Guernsey, the unit will initially focus on the Fine Arts, Jewelry and Vintage Cars exhibitions.
“We have been working closely with our reinsurance partners over the past few months, and it is a testament to the support they have given us that we will be able to deploy a maximum line size of $ 120,000,000 in our Fine portfolio. Art, ”Beck said. .
“There is a real need for our capacity that can be deployed in a rating environment at the right price,” he added.
Beck was previously Executive Chairman of AXA XL Services and XL Insurance Guernsey Limited and responsible for the implementation of the first AXA ILS vehicle in Guernsey.
He worked for AXA XL from 2014, before spending time with CNA Hardy, QBE and Hiscox until 1999.
Spurrier, meanwhile, was a specialist risk underwriter for XL Insurance Guernsey Limited, focusing on kidnapping and ransom risks and fine art.
Prior to that, he worked for Artex (Arthur J Gallagher) in the Captive Market team supporting Hiscox Crisis Management. In addition, he has extensive experience in structuring alternative capital vehicles for various companies.
The launch of ANT Exceptional Risks was first announced in June 2021.