AXIS Specialty Selects QuoVadis; New Bermuda Reinsurer Enables Secure Business Online.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--Dec. 19, 2001 AXIS Specialty Limited today announced that it has appointed QuoVadis to provide digital signature solutions for its 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. operations. With more than $1.6 billion in capital, AXIS was formed in response to the significant dislocations in the global insurance sector following the World Trade Center disaster. Based in Bermuda, AXIS has reinforced the island's position as the dominant global insurance centre. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Andrew Cook, CFO See Chief Financial Officer. of AXIS Specialty, "Along with our substantial capital and proven management team, AXIS has designed our systems to leverage the latest technologies to provide clients with the ability to submit and close deals online rapidly, confidentially, and securely." Also based in Bermuda, QuoVadis is the first offshore commercial certificate authority in the world. QuoVadis is working with technology consultant Sbi Limited to provide digital certificates to both AXIS and its business partners. Digital certificates are a non-forgeable form of electronic ID that can be used to ensure privacy online and for secure access to Web sites and networks. They also create legally binding digital signatures that allow high value business to be transacted over the Internet. Tony Nagel, 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 QuoVadis, continued, "Digital certificates allow companies to move their business online, improving responsiveness while managing the risks to both their reputation and bottom line. In addition, by using Bermuda-issued QuoVadis certificates, AXIS is able to reinforce the link between its global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. and the Bermuda jurisdiction." The Hon. Renee Webb, Bermuda's Minister for Telecommunications and e-Commerce, commenting on the announcement, congratulated the Bermudian companies involved and noted, "This development illustrates the quality of Bermuda's e-business infrastructure and its readiness to serve the needs of the global reinsurance sector and other businesses both off and on the Island." About AXIS Specialty AXIS Specialty Limited is a Bermuda based insurance and reinsurance company initially focusing on property catastrophe reinsurance and specialty lines of insurance including coverage in the marine and energy, aviation and aerospace, war, commercial property, and political risk markets. The founding investor in AXIS Specialty is Trident II, L.P., a private equity fund managed by MMC See MultiMediaCard and Microsoft Management Console. Capital. Other lead investors include private equity funds managed by The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, , Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , JPMorgan Partners, and Thomas H. Lee Partners  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Thomas H. . AXIS has received an A- (Excellent) rating from A.M. Best Company, Inc. For more information: www.axis.bm. About QuoVadis Based in Bermuda, QuoVadis Limited is the first offshore commercial certificate authority in the world. QuoVadis provides digital certificate solutions to offshore-based entities, as well as to their global networks of employees, business partners, and clients. For more information: www.quovadis.bm. QuoVadis is spelled as one word. |
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