Former Zurich Australia CEO David Smith has begun work as CEO and Country Manager of Australia Operations for Axis Capital Holdings.

Axis Insurance CEO International Mark Gregory says Mr Smith “is well positioned to lead our continued expansion in the Australian marketplace”.

The Bermuda-based company has been active in the Australian market since 2005, and was licensed as an insurer in 2008 shortly before buying professional risks underwriting agency Dexta.

Mr Smith left Zurich Australia in March last year after five years when the company was split into two separate divisions. Prior to that he set up and then managed IAG’s operations in New Zealand.

Axis says he will work closely with Axis Specialty Australia COO Tony Wheatley.

Meanwhile, Axis Capital Holdings CEO and President John Charman has announced he will step down in May after 10 years in the role to become chairman of the board. He will be succeeded by CFO Albert Benchimol.

Mr Charman says he has “always held the view that it is critical to the ongoing wellbeing of a company that a CEO – much like a houseguest – should not outstay his or her welcome”.