Nichols steps down as Axis Re CEO

Jay Nichols has resigned as chief executive officer of Axis Re to take on new challenges. He will remain with the Bermudian reinsurer in a transitional role until the end of March. Jan Ekberg, Axis Re Europe president and chief underwriting officer, has been named as Nichols’ successor on an interim basis. Ekberg has been with the company since 2004. Axis Re is the reinsurance operation of Axis Capital Holdings. Nichols said, “When I joined Axis Re, we set a plan to profitably grow the reinsurance business, improve our analytical capabilities and expand into strategic capital partnerships to match the right risk with the right capital. I am grateful for what we have accomplished in all areas of the reinsurance business and I have been honoured to lead such a talented and committed group for the past five years. I’ve deeply enjoyed working with my team, my colleagues across Axis, and being a part of the company’s leadership.” Nichols joined Axis in 2012 to take the reinsurance CEO role. He joined the company after a 15-year stint with fellow Bermudian firm RenaissanceRe, where he held several senior roles, most recently as head of the firm’s Ventures division.