AXIS Specialty Subsidiaries Receive "A-" -Excellent- Ratings From A.M. Best Company, Inc.Business Editors PEMBROKE, Bermuda--(BUSINESS WIRE)--July 30, 2002 AXIS Specialty Limited announced today that its European subsidiaries AXIS Specialty Europe Limited and AXIS Re Limited have received "A-" (Excellent) ratings from A.M. Best Company, Inc. 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. said, "The extension of the rating to our subsidiaries affirms our global underwriting strategy and our planned, controlled expansion." AXIS Specialty Limited is a Bermuda based company, 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. in excess of $1.7 billion, focusing on 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. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion