There may be insurers competing for perceived opportunities in the terrorism insurance market, but AXIS Capital isn't one of them, the company's chief executive said this morning, referring to what he believes is "irrational" behavior in the market.
John Charman, chief executive officer and president of the Bermuda-based company, highlighted terrorism as a line of business that exemplifies aggressive competitive behavior in the insurance marketplace. His comments came during a conference call this morning after the company reported a record second-quarter net income of $223 million.
Still, an analyst asked if there might be new opportunities emerging in the line as a result of the extension of the Terrorism Risk Insurance Act.
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