S&P Sees No Effect on AXIS’ Ratings from Change in CFO’s

Standard & Poor’s Ratings Services announced that its ratings on Bermuda-based AXIS Capital Holdings Ltd. (A-/Stable/–) and its operating subsidiaries are not affected by the announcement of the appointment of Albert Benchimol as chief financial officer, effective Jan. 17, 2011.

S&P noted that Benchimol served as “Executive Vice President and CFO of PartnerRe Ltd. (A/Negative/–) from 2000 through October 2010. His retirement from PartnerRe will be effective Dec. 31, 2010.

“He will be replacing David Greenfield, who is leaving the company on Nov. 30, 2010, to pursue other interests. We don’t believe this management change is a concern given Mr. Benchimol’s extensive industry experience and strong track record, along with AXIS’s strong executive management team.”

Source: Standard & Poor’s