AXIS Capital Announces Strategic Realignment of Organizational Structure.PEMBROKE, Bermuda -- AXIS Capital Holdings Limited ("AXIS Capital") (NYSE NYSE See: New York Stock Exchange : AXS AXS Access AXS Anomalous X-Ray Scattering AXS Alpha Chi Sigma AXS Alpha X-Ray Spectrometer AXS Activex Script ) today announced that it will realign re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. its organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. to enhance the brand and operations of its insurance businesses and its reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. businesses globally. Effective January 1, 2005, the Company will implement two distinct global underwriting platforms - AXIS Insurance and AXIS Re. In conjunction with the creation of these two global platforms, AXIS Capital announced new and expanded roles for current members of senior management and the creation of separate global underwriting committees for AXIS Insurance and AXIS Re to enhance coordination of the activities of AXIS Insurance and AXIS Re globally. AXIS Insurance Dennis Reding Reding may refer to: People
AXIS Re John Charman John R Charman (born 1953), is an English businessman, who has made his career in insurance. He is currently CEO/President/Director at Bermuda based Axis Capital Holdings Ltd. , AXIS Capital's CEO and President, will assume the additional role of Chairman of AXIS Re. The three leaders of AXIS Capital's current reinsurance operating units, William Fischer, Karl Mayr and Michael Morrill, will report to Mr. Charman and work with him to coordinate the activities of AXIS Re globally. Michael Butt, AXIS Capital's Chairman of the Board, will join John Charman on the global underwriting committees for both AXIS Insurance and AXIS Re. John Charman, AXIS Capital's CEO and President, said, "Our current organizational structure is based on the chronological build-out and development of each of our five operating units. At this stage in our evolution as a Company, we believe it is in the best interests of our employees, clients and shareholders to realign our organizational structure in a way that better integrates the infrastructure and skill sets embedded in each and every one of our operating units. Mr. Charman continued, "Through this strategic reorganization, we expect to create a stronger brand for each of our global insurance and global reinsurance businesses and to continue to maximize operational efficiencies within them. Having founded AXIS to be a modernizing influence on the industry, I look forward to working with my colleagues to make AXIS Insurance and AXIS Re successful global forces." AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. in excess of $3.0 billion and locations in Bermuda, the United States, Europe and Asia. Its operating subsidiaries have been assigned a rating of "A" ("Excellent") by A.M. Best and a rating of "A" ("Strong") by Standard & Poor's. For more information about AXIS Capital, visit the Company's website at www.axiscapital.com. |
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