Greetham Joins AXIS Board

October 4, 2006

Bermuda’s AXIS Capital Holdings Limited announced that effective October 1, 2006, the Company’s Board of Directors has appointed Christopher Greetham to the Board.

Greetham, 61, recently retired from his position as Chief Investment Officer of XL Capital Ltd. During his ten-year tenure at XL, he managed a tenfold growth in invested assets to more than $40 billion. From 1982 to 1996, he served as CFO of OIL Insurance Ltd. and President of OIL Investment Corporation Ltd. Between 1975 and 1982, he served as an investment analyst and a portfolio manager at Bankers Trust Company.

Michael Butt, Chairman of AXIS Capital, commented: “We are pleased to welcome Chris to AXIS Capital’s Board of Directors. His deep experience of our industry and, in particular, of managing a growing investment portfolio, will be invaluable.”

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