Axis Capital and Stone Point Credit to form Monarch Point Re in a $400m deal.

Axis Capital, a provider of specialty lines insurance and reinsurance globally, and Stone Point Credit, an alternative investment management firm, agreed to form Monarch Point Re, a company that underwrites a diversified portfolio of casualty reinsurance business, in a $400m deal. "The launch of Monarch Point Re further demonstrates AXIS’s ability and desire to meet the needs of our customers and distribution partners by expanding our specialty reinsurance capacity. Moreover, in Stone Point Credit, we are partnering with an exceptional investment manager, which aligns with our alternative capital strategy of matching the right risk with the right capital," Vince Tizzio, AXIS Capital President and CEO.