AXIS Capital Nominates Jurgen Grupe and Henry Smith to Its Board.Business Editors PEMBROKE, Bermuda--(BUSINESS WIRE)--March 12, 2004 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 its Board of Directors has nominated Jurgen Grupe, former chairman of AON - 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. Europe, and Henry Smith, former Chief Executive Officer of The Bank of Bermuda The Bank of Bermuda Limited is a leading financial services company in Bermuda providing fund administration, trust, custody, asset management and banking services to institutions and individuals. Limited, for election to the Board of Directors, in a non-executive capacity, at its annual general meeting to be held in Bermuda on May 6, 2004. Commenting on these nominations, Michael Butt, Chairman, and John Charman, 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. and President, said, "We are very fortunate to have attracted to our Board individuals of outstanding international reputation. Jurgen brings more than 40 years of in-depth global insurance industry experience and knowledge and Henry more than 30 years of experience in the global financial markets, including significant experience in the Bermuda marketplace. We very much look forward to the prospect of working with both Jurgen and Henry." Mr. Grupe, age 66, is also a former member of the Board of Aon Reinsurance - World-wide. Prior to Aon's acquisition of Jauch & Hubener in Hamburg, Germany, Mr. Grupe was a partner of Jauch & Hubener OHG OHG Offene Handelsgesellschaft OHG Otto Hahn Gymnasium (Germany) OHG Old High German OHG Operators Harmonization Group (ITU) OHG Official Hotel Guide OHG One Hit Gamer (gaming) and chairman of its reinsurance company. Mr. Smith, age 55, is Executive Director of The Bank of Bermuda. He recently retired after seven years as CEO of the Bank, having begun his career there in 1973. Prior to his appointment as CEO, he held various senior positions within the Bank, including positions overseas, having previously been Executive Vice President & Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. ; Executive Vice President, Europe; and Senior Vice President, Retail Banking. AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity of approximately $2.8 billion and locations in Bermuda, the United States and Europe. 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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