AXIS Specialty Europe Limited to Offer Financial Lines.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 its European insurance subsidiary, AXIS Specialty Europe Limited ("AXIS Europe"), has begun underwriting Directors and Officers Liability Insurance Directors and Officers Liability Insurance is insurance payable to the directors and officers of a company to cover damages or defence costs in the event they are sued for wrongful acts while they were with that company. and other Professional Lines coverages. AXIS Europe, primarily via its UK branch AXIS Specialty London, will offer a broad array of products, including Directors and Officers Liability Insurance, Pension Scheme Liability (Fiduciary Liability), Employment Practices Liability and Professional Indemnity (Miscellaneous Professional Liability) for publicly traded and privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Financial Lines team will be led by Graham Evans, Financial Lines Manager and supported by Colin Thompson, Deputy Financial Lines Manager and Dax Gulmohammed, Senior Financial Lines Underwriter. John Charman, AXIS Capital 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, "AXIS has a substantial professional lines presence in the U.S. and Bermuda, and we are pleased to expand our capabilities to meet the growing demand for D&O and E&O coverage worldwide. The addition of these products will complement AXIS Europe's existing book of specialty business and further enhance our position in the global insurance arena." AXIS Europe will focus on providing coverage for commercial and financial institution risks predominately in the United Kingdom, Continental Europe, Australia and Asia. The company will offer limits of liability up to GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15 million (US$25 million) for professional lines coverages underwritten on a primary and excess basis. This insuring capacity is separate from the professional lines capacity offered by AXIS' U.S. based insurance subsidiaries and by AXIS Specialty Limited in Bermuda. Contact details for AXIS Europe are: Head Office ----------- AXIS Specialty Europe Limited Mount Herbert Court, 8th Floor 34 Upper Mount Street Dublin 2 Office Tel: +353 (1) 632-5900 Jack Gressier: +353 (1) 632-5814 E-mail: jack.gressier@axiscapital.com UK Branch --------- AXIS Specialty London No.2 Minster Court Mincing Lane London, EC3R 7AS Office Tel: +44 (0) 20 7787-3800 Graham Evans: +44 (0) 20 7787-3880 E-mail: graham.evans@axiscapital.com Colin Thompson: +44 (0) 20 7787-3822 E-mail: colin.thompson@axiscapital.com Dax Gulmohammed: +44 (0) 20 7787-3833 E-mail: dax.gulmohammed@axiscapital.com AXIS Europe is a non-life insurance company licensed and domiciled in Ireland, with a branch in the United Kingdom trading as "AXIS Specialty London". The company carries the AXIS group rating of "A" ("Excellent") from A.M Best and "A" ("Strong") from Standard & Poor's for claims-paying ability. AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty 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. 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. of approximately $3.0 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion