AXIS Specialty Europe to Offer Professional Lines

June 22, 2004

AXIS Capital Holdings Limited announced that its European insurance subsidiary, AXIS Specialty Europe Limited (AXIS Europe), has begun underwriting Directors and Officers Liability Insurance and other Professional Lines coverages.

AXIS Europe, primarily via its UK branch, AXIS Specialty London, will offer “a broad array of products, including Directors and Officers Liability Insurance, Pension Scheme Liability (Fiduciary Liability), Employment Practices Liability and Professional Indemnity (Miscellaneous Professional Liability) for publicly traded and privately held companies located outside the United States,” said the bulletin.

“The Financial Lines team will be led by Graham Evans, Financial Lines Manager and supported by Colin Thompson, Deputy Financial Lines Manager and Dax Gulmohammed, Senior Financial Lines Underwriter,” the announcement continued.

AXIS CEO and President John Charman commented: “AXIS has a substantial professional lines presence in the U.S. and Bermuda, and we are pleased to expand our capabilities to meet the growing demand for D&O and E&O coverage worldwide. The addition of these products will complement AXIS Europe’s existing book of specialty business and further enhance our position in the global insurance arena.”

AXIS Europe will focus on providing coverage for commercial and financial institution risks predominately in the United Kingdom, Continental Europe, Australia and Asia. The company will offer limits of liability up to £15 million ($27.5 million) for professional lines coverages underwritten on a primary and excess basis. The bulletin noted that “this insuring capacity is separate from the professional lines capacity offered by AXIS’ U.S. based insurance subsidiaries and by AXIS Specialty Limited in Bermuda.”

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