Axis Capital has announced a reorganisation of its insurance operations that the Bermuda-based insurer and reinsurer says will enhance its position as a “global leader” in specialty lines insurance.

As part of the reshuffle, Axis announced the appointment of Dennis Reding, currently chairman of Axis Insurance, to the new position of chief operating officer of the group.

He reports to John Charman, the chief executive officer and president of Axis Capital.

John Gressier has been appointed to succeed Mr. Reding as chairman of AXIS Insurance. Mr. Gressier was previously deputy chairman of Axis Insurance and CEO of Axis Global Insurance.

Marshall Turner has been appointed to the position of President of Axis Insurance. He was previously CEO of Axis US Insurance.

Axis Insurance will now have four divisions that will be managed across all geographic locations. These are Specialty Lines, Professional Lines, Capital Risk Solutions and AXIS Select Markets.

Axis was launched in 2002, as reinsurance rates rocketed following the September 2001 terror attacks on New York and Washington, DC.

Since then Axis has chosen to diversify geographically and by line and now has locations in Europe, the US and Singapore, as well as on the Island.

The Specialty Lines division will include traditional property and casualty specialty insurance products.

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.

Axis Select Markets will include specialty insurance products largely targeting smaller commercial clients.