Specialist insurer AXA Art has established a new legal entity named AXA Art Americas Corporation to facilitate its growth strategy and business interests in North and South America.

The new entity, which will be based in New York, will evaluate and insure art works for collectors, artists, museums, galleries, corporations, and exhibitions in the US.

AXA Art Group global CEO Ulrich Guntram said that establishing the new entity is an important step to better serve clients, especially as the company enters into new international territories.

"We are pleased to have Christiane Fischer continue to play a leading role in developing the important and growing art markets on the North and South American continents," Guntram added.

Christiane Fischer, a member of AXA Art executive committee, will serve as president and CEO of the new entity. She will continue to serve as CEO of AXA Art Insurance Corporation.