Steve Arora has been named chief executive officer of AXIS Re.

He has joined the company from Swiss Re, where he worked for 18 years in a variety of senior positions, most recently as head of casualty reinsurance and as a member of the reinsurance executive committee.

In a statement, Bermudian-based Axis Capital Holdings Ltd said Mr Arora has extensive international experience and leadership capabilities and has been recognised by the World Economic Forum as a Young Global Leader.

He will lead Axis Capital’s $2.2 billion reinsurance business, and will become a member of the company’s executive committee where he will report to Albert Benchimol, president and CEO.

Mr Benchimol said: “Steve is a remarkable talent and an accomplished and widely respected executive who stands at the forefront of an emerging generation of senior leaders in our profession.

“He is perfectly suited to be CEO of Axis Re, bringing breadth and depth of experience on a global scale and a client-centric mentality that matches our culture.”

Axis Re interim CEO Jan Ekberg will resume his previous role as president and chief underwriting officer of Axis Re Europe upon Mr Arora’s formal appointment in January.

Mr Benchimol said: “On behalf of Axis, I must express my deep appreciation to Jan for his strong and steady oversight of our reinsurance business during the interim period. Jan’s leadership has and will continue to be integral as we further establish a strong foundation for growth in our key sectors.”

Commenting in his appointment, Mr Arora said: “I am very excited to join Axis. I am impressed with the strong team and company culture, and the value proposition which combines the agility of a mid-sized company with the sophistication of a global player.

“This combination leads to a unique competitive advantage, which I am confident will translate to increased relevance and long-term profitable growth.”

Mr Arora and his family will be based in Zurich.