AXIS Specialty Announces Opening of Authorized Dublin Office.Business Editors PEMBROKE, Bermuda--(BUSINESS WIRE)--May 28, 2002 AXIS Specialty Limited today announced that it received Irish Governmental approval to commence business as an insurer and reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. through its European headquarters in Dublin, Ireland. The Company will write insurance through AXIS Specialty Europe Limited and 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. through AXIS Re Limited. These companies will give AXIS the ability to write a wide range of specialty lines throughout the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community . John Charman, 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. of AXIS Specialty, said, "We are delighted to be able to headquarter head·quar·ter v. head·quar·tered, head·quar·ter·ing, head·quar·ters Usage Problem v.tr. To provide with headquarters: our European operations in Dublin. This is a critical step in our strategy of establishing AXIS as one of the premier global specialty underwriting businesses." AXIS Specialty Limited is a Bermuda based company focusing on reinsurance and specialty lines of insurance. Cautionary Note Regarding Forward-Looking Statements 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 provides a "safe harbor" for 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. 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. |
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