Anders C. Anderson Appointed to Executive Management Group.PEMBROKE, Bermuda -- AXIS Capital Holdings Limited ("AXIS Capital") (NYSE NYSE See: New York Stock Exchange : AXS) today announced that Anders C. Anderson has been appointed to its Executive Management Group. Mr. Anderson joined the Company in the new role of Chief Audit Executive during the second quarter of 2006. As Chief Audit Executive, Mr. Anderson directs the daily activities of the Company's internal audit function and coordinates management's implementation of Sarbanes-Oxley Section 404 requirements. The internal audit function principally provides oversight of the Company's management of strategic, financial reporting, operational and regulatory compliance risks for the Audit Committee of the Board of Directors and the Executive Management Group. Mr. Anderson joined AXIS Capital from Deloitte where he was the Director of Internal Audit Services to the Insurance Industry and led their Internal Audit Services practice in the Carolinas. In this capacity, he supported Audit Committees, executive management and audit executives in their evaluation and testing of risk management activities for numerous financial services companies in the Carolinas and insurance companies throughout North America. He assisted many management teams in developing their response to Section 404 of Sarbanes-Oxley. Mr. Anderson holds a B.A. in Economics from Eckerd College and an M.S. in Accountancy from Virginia Commonwealth University Formed by a merger between the Richmond Professional Institute and the Medical College of Virginia in 1968, VCU has a medical school that is home to the nation's oldest organ transplant program. . He is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. as well as a Certified Information Systems Auditor. 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, commented, "I am delighted to welcome Andy to the senior management team at AXIS. He brings huge experience and obvious ability to help us move strongly forward in the next stage of our development." 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 at June 30, 2006 of $3.8 billion and locations in Bermuda, the United States, Europe and Singapore. 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. AXIS Capital has been assigned a senior unsecured debt rating of Baa1 (stable) by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. and BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. + (stable) by Standard & Poor's. For more information about AXIS Capital, visit our website at www.axiscapital.com. |
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