AXIS Specialty Completes Acquisition of R&SA Unit

December 18, 2002

AXIS Specialty Limited announced the completion of its purchase of Royal & SunAlliance Personal Insurance Company.

The unit will be renamed AXIS Reinsurance Company, based in New York City. AXIS Reinsurance Company will have capital in excess of $375 million and is rated “A-” by A.M. Best Company Inc.

AXIS Reinsurance Company will offer a full range of traditional and specialty property and liability reinsurance products, such as directors and officers, medical malpractice, umbrella, casualty clash, worker’s compensation, marine, property pro rata, and property per risk.

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