Andrew Rush Resigns from AXIS Capital Board Following His Departure from CSFB.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 ) announced today that Andrew Rush has resigned from its Board of Directors following his departure from Credit Suisse First Boston's Private Equity Group to pursue new opportunities. Mr. Rush has served as a director of AXIS Capital since its formation in November of 2001 and was an important contributor in efforts leading toward the Company's successful initial public offering in July 2003. Until last week, he was a Managing Director of 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. in the Private Equity Group, a position he held since 1997, and a member of the Investment Committee of DLJ Merchant Banking Partners DLJ Merchant Banking Partners (DLJMB) is a LBO-focused private equity firm of Credit Suisse. DLJMB has offices in New York, London and Los Angeles. External links
Michael Butt, Chairman of AXIS Capital, stated, "The Board, the Company and I are all grateful to Andy for his valuable contributions, support and service during AXIS Capital's critical development stages. We wish him all the very best in his new endeavors." Mr. Rush's resignation took effect yesterday and the Company has no immediate plans to appoint a successor. 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. |
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