AXIS Names Anderson to Executive Management Group

August 30, 2006

Bermuda-based AXIS Capital Holdings Limited has appointed Anders C. Anderson to its Executive Management Group. He joined the Company in the new role of Chief Audit Executive during the second quarter of 2006.

In that role he 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.

Anderson joined AXIS 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. Anderson holds a B.A. in Economics from Eckerd College and an M.S. in Accountancy from Virginia Commonwealth University. He is a Certified Public Accountant as well as a Certified Information Systems Auditor.

President and CEO John Charman 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.”

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