Axis Reinsurance Company, one of the US operating subsidiaries of Axis Capital Holdings, has been authorized by the Office of the Superintendent of Financial Institutions Canada to operate as a branch insurer underwriting property and casualty insurance and reinsurance business in Canada.

Axis Reinsurance Company said that its new Canadian branch will be based in Ontario.

Dennis Reding, COO of Axis Capital, said: We are looking forward to bringing our specialized capabilities in both insurance and reinsurance to bear as we establish our branch in Canada. This branch will be instrumental in advancing our long-term commitment to provide customized coverage solutions for both local and multinational clients.