AXIS Capital Announces the Appointment of Dr. Karl Mayr as President and C.E.O. of AXIS Re Europe.Business Editors PEMBROKE, Bermuda--(BUSINESS WIRE)--July 18, 2003 AXIS Capital Holdings Limited ("AXIS Capital") today announced the appointment of Dr. Karl Mayr Karl Mayr (1883 – 1945) General Staff officer and Hitler's immediate superior in an Army Intelligence Division in the Reichswehr, 1919-1920. He later became Hitler's opponent, and wrote in his memoirs that it was General Ludendorff who had personally ordered him to have as President and C.E.O. of AXIS Re Europe ("AXIS Re"). Dr. Mayr will lead the AXIS Re underwriting team in developing and servicing our European 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. clients. This operation is subject to final regulatory approval and will be based in Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . 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 President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "We are delighted that Karl has agreed to lead AXIS Re in Europe. This extraordinarily important market is undergoing both fundamental changes as well as a substantial re-alignment of strategic business partnerships. We will deliver to European clients a highly rated unencumbered balance sheet uniquely coupled with sustainable, dependable and proven underwriting skills. Michael Butt will also serve as Chairman of Axis Re and we will be making further announcements as we put our senior European reinsurance management team in place this autumn." 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 $2.0 billion and global locations in Bermuda, the United States and Europe. Its operating subsidiaries have been assigned a rating of "A" ("Strong") by Standard & Poor's and a rating of "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit the Company's website at www.axiscapital.com. Cautionary Note Regarding Forward-Looking Statements This release or any other written or oral statements made by or on behalf of the Company may include forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All statements other than statements of historical fact included in this release are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. When the Company makes forward-looking statements, the Company is basing them on its management's beliefs and assumptions, using information currently available to the Company. Such beliefs and assumptions are subject to risks and uncertainties. If these beliefs or assumptions prove to be incorrect, the Company may be adversely affected. In addition, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. |
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