Hans-Peter Gerhardt Named New AXA RE CEO

March 19, 2003

France’s AXA Group announced that Hans-Peter Gerhardt, currently a member of the Executive Committee and Vice-President of the Board of Directors of General Cologne Re will join AXA RE as CEO, effective May 1, 2003.

Gerhardt, 47, has 22 years of experience in the field of reinsurance. He began his career with Hannover Re, and then with Cologne Re and General Re, where he’s served as a board member and Executive VP since 1998. He was responsible for operating a number of the company’s divisions, including Faraday, the Group’s London broker operations

Philippe Donnet, a member of the AXA Executive Committee, who was recently appointed CEO of AXA Japan, remains Chairman of the Board of AXA RE. Gerhardt, however, will report directly to AXA CEO Henri de Castries.

“We are not only delighted to welcome on board AXA a very senior executive and a great professional of the reinsurance business, but also confident that his proven track record at the world’s third largest reinsurance group will help AXA reinsurance business confirm its return to profit and excellence in a turbulent environment” stated both de Castries and Donnet.

Gerhardt commented, “I am thrilled to join one of the world’s top notch financial protection groups to run one of its major divisions under the authority of Henri de Castries”.

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