AXIS Elects Bell Independent Director

September 11, 2006

Bermuda-based AXIS Capital Holdings Limited announced that the Company’s Board of Directors has elected Geoffrey Bell to its Board.

Bell, 66, is currently President of Geoffrey Bell and Company formed in 1982 as a consultant to major corporations and banks internationally providing advice on capital market transactions as well as undertaking economic, financial and country risk analysis. He is also the Founder and is a member of the Board of Directors of the Consultative Group of International Economic and Monetary Affairs known as the Group of 30.

From 1987 to 1993, he was Chairman of Guinness Mahon Holdings, one of London’s oldest merchant banks. He began his merchant banking career at Schroders in 1969 and became a director of Schroders as well as an Executive Vice President of J. Henry Schroder Bank in New York working on the international expansion of the group. Between 1966 and 1969, he served as Economic Advisor to the British Embassy in Washington. He was educated at the London School of Economics before working at Her Majesty’s Treasury, and later returning to the LSE to lecture on monetary economics in 1964. In 1994, he was appointed a Governor of the LSE.

AXIS Chairman Michael Butt commented: “We are pleased to welcome Geoffrey to AXIS Capital’s Board of Directors. I am delighted that Geoffrey is joining our Board. His immense wealth of knowledge and depth of experience of the international financial markets will be of significant value to our Board as we continue to develop our global franchise.”

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