PEMBROKE, Bermuda - AXIS Capital Holdings Limited (NYSE:AXS), a global specialty underwriter and provider of insurance and reinsurance solutions, announced the appointment of Stephen Lord as Global Chief Information Officer (CIO) and Robert Barriero as Global Head of Strategic Sourcing and Corporate Real Estate.
Stephen Lord, joining AXIS from The Hartford, where he served as CIO for various divisions, will report directly to the President and CEO Vince Tizzio and will be a part of the company's Executive Committee. Lord is not new to AXIS, having previously held several leadership roles including CIO Accident & Health, Global Chief Technology Officer, and CIO Reinsurance. His return is seen as a strategic move to enhance the company's operational efficiency and market approach through the "How We Work" program initiated by Tizzio in 2023.
"Stephen is an excellent leader who brings a proven ability to architect and manage transformative, business-enabling technology initiatives," said Tizzio, emphasizing Lord's deep understanding of the specialty insurance and reinsurance space.
Robert Barriero, previously with Morgan Stanley as Head of Property Management – Americas, steps into the newly created role of Global Head of Strategic Sourcing and Corporate Real Estate, reporting to Chief Administrative and Legal Officer Conrad Brooks. Barriero's role will consolidate the Vendor Management and Facilities teams. His experience at Morgan Stanley, along with past roles at Cushman & Wakefield, Deutsche Bank, Pfizer (NYSE:PFE), and Goldman Sachs, is expected to drive strategic and sustainable solutions within AXIS.
Brooks noted that Barriero brings "a pedigree of success at world-class organizations" and is adept at creating workplace environments that support productivity and operational excellence.
AXIS Capital, with shareholders' equity of $5.3 billion as of December 31, 2023, operates globally with locations in Bermuda, the United States, Europe, Singapore, and Canada. The company's operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best.
The information in this article is based on a press release statement from AXIS Capital Holdings Limited.
InvestingPro Insights
As AXIS Capital Holdings Limited (NYSE:AXS) fortifies its leadership team with strategic appointments, the company's financial metrics and market performance offer additional insights into its operational standing. With a market capitalization of approximately $5.32 billion and a P/E ratio of 15.35, AXIS reflects a stable investment profile. Notably, the company's adjusted P/E ratio for the last twelve months as of Q4 2023 stands at 14.31, suggesting a reasonable valuation compared to near-term earnings growth.
InvestingPro Tips for AXIS highlight the company's robust dividend track record, having raised its dividend for 21 consecutive years, and analysts' optimistic outlook, with four analysts having revised their earnings upwards for the upcoming period. These insights are particularly relevant as they underscore AXIS's commitment to shareholder returns and the positive sentiment among market experts regarding its future performance.
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