AXIS Capital Appoints Sir Andrew Large to Its Board as an Independent Director.PEMBROKE, Bermuda -- AXIS Capital Holdings Limited ("AXIS Capital") (NYSE NYSE See: New York Stock Exchange : AXS) today announced that the Company's Board of Directors has appointed Sir Andrew Large to its Board as an independent director. Sir Andrew Large will serve as a Class I Director and will serve on the Board until 2009. Michael Butt, Chairman of AXIS Capital, said: "We are pleased to welcome Sir Andrew Large to AXIS Capital's Board of Directors. Andrew brings a wealth of international expertise from the private sector as well as experience at the highest level in the public sector as a financial policymaker and regulator. His background in the global financial services arena and significant experience of the risk management process will be of invaluable assistance to AXIS in meeting the current and future challenges of growing as a global financial services enterprise." Sir Andrew Large, 64, recently retired as Deputy Governor for Financial Stability at the Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. and member of the Bank's Monetary Policy Committee. Prior to his appointment to the Bank of England in September 2002, he was Deputy Chairman of the Board of Barclays Bank plc from May 1998 when he also chaired the Group of 30 Project on Clearing and Settlement. He was an investment banker from 1970 through 1990 at Orion Bank and Swiss Bank Corporation
Swiss Bank Corporation (SBC) (German: Schweizerischer Bankverein (SBV), French: Société de Banque Suisse (SBS), Italian:Società di Banca Svizzera of which he was a member of the Management Board from 1987 through 1989. He began his career at British Petroleum in 1964. Other posts included acting as Chairman of The Securities and Investments Board, predecessor of the FSA, from 1992 to 1997. He was also a member of the Takeover Panel, the Board of Banking Supervision and the Council of Lloyd's An Act of Parliament, the Lloyd's Act 1982, defines the management structure and rules under which Lloyd's operates. Under the Act, the Council of Lloyd's is responsible for the management and supervision of the market. . He has been a non-executive Director of a number of public companies including Nuclear Electric, Rank Hovis McDougall RHM, known more fully as Rank Hovis McDougall was a United Kingdom food business until its purchase by Premier Foods in March 2007. Prior to its takeover, the company owned numerous brands, particularly flour, where its core business started, and consumer food products. and Dowty Group. He was educated at Winchester College and Cambridge University, where he read Economics. He received his M.B.A. at INSEAD INSEAD Institut Européen d'Administration des Affaires (European Institute for Business Administration; now know simply as INSEAD) INSEAD I Never Stop Eating And Drinking , Fontainebleau. AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at September 30, 2006 of $4.1 billion and locations in Bermuda, the United States, Europe and Singapore. 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. AXIS Capital has been assigned a senior unsecured debt rating of Baa1 (stable) by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. and BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. + (stable) by Standard & Poor's. For more information about AXIS Capital, visit our website at www.axiscapital.com. |
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