AXIS Specialty Limited, the newly formed Bermuda-based insurer, announced that it has received Irish Government approval to commence business as an insurer and reinsurer from its European headquarters in Dublin, Ireland.
The Company, established by MarshMac’s Trident II investment trust, J.P. Morgan Chase and other investors with $1.6 billion in initial capital, will write insurance through AXIS Specialty Europe Limited and reinsurance through AXIS Re Limited. “These companies will give AXIS the ability to write a wide range of specialty lines throughout the European Union,” said the announcement.
John Charman, President and CEO of AXIS Specialty, stated that, “We are delighted to be able to headquarter our European operations in Dublin. This is a critical step in our strategy of establishing AXIS as one of the premier global specialty underwriting businesses.”
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