AXIS Announces New Bermuda-based Financial Lines Capability

July 8, 2003

AXIS Capital Holdings Limited announced today that as of July 7, it will provide Directors & Officers Liability Insurance and other financial lines coverages through its Bermuda-based subsidiary, AXIS Specialty Limited.

The company will offer limits of liability up to $25 million for financial lines coverages underwritten on an excess basis. AXIS already offers a broad array of financial lines coverages, including Directors & Officers Liability, Employment Practices Liability and Fiduciary Liability Insurance, on a primary and excess basis through its U.S.-based insurance subsidiaries. “The AXIS U.S. Insurance Companies have separate insuring capacity of $25 million for financial lines coverages underwritten in the United States,” said the announcement

John Charman, AXIS President and CEO, stated, “There is a heavy demand for greater insurance capacity in the D&O arena, with insurance brokers looking to Bermuda companies to provide the additional limits their corporate customers need. As a financially strong company with no legacy exposures, we are well positioned to leverage our expertise in this area and capitalize on new business opportunities in the Bermudian marketplace.”

Was this article valuable?

Here are more articles you may enjoy.