Insurer and reinsurer Axis is to move into the nursing home professional liability market.

The company said that an ageing population meant the sector would increase in importance.

Axis Healthcare, its specialist healthcare insurer, has hired two new underwriters, both experts in services for seniors.

Peter Wilson, president of Axis Insurance in the US, said: “This move marks Axis Healthcare’s entry into the ageing services market, which we have long identified as a promising and growing segment for specialty insurers.

“The long-term demographics of an ageing population indicate that this should be a growth business as the demand for assisted living and nursing care increases.”

The company has taken on Dave Stoner, former vice-president at Rockhill Insurance Group, who has 27 years of experience in ageing services professional liability insurance, and Jason Correll, who moves from a post as assistant vice-president at the same company.

Kimber Lantry, Axis Healthcare head, said: “Given the strong demographic trends driving long-term growth in ageing services and nursing home care, we have great confidence both in the scale of the opportunity and in the actuarial, claims and underwriting expertise Axis Healthcare will bring to serving clients and brokers in this area.

“As part of the anticipated transition from Rockhill, we are very pleased to welcome two additional highly experienced underwriters, Dave and Jason, to our team.”