AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS) today
announced that William Fischer has been promoted to the position of
Chief Executive Officer, AXIS Re, pending approval by the Bermuda
Department of Immigration. AXIS Re refers to the reinsurance segment of
AXIS Capital and is comprised of its global reinsurance underwriting
operations, including the AXIS Re Bermuda, AXIS Re Europe, and AXIS Re
U.S. business units.
In his new role, Mr. Fischer will report directly to John Charman, CEO
and President of AXIS Capital, and assume the responsibility for the
leadership and management of all reinsurance business units. He will
continue to serve as a member of AXIS Capital’s Executive Management
Group and AXIS Capital’s Risk Management Committee. He will be supported
by Dr. Karl Mayr, who will serve as Chairman of AXIS Re, and Michael
Morrill, who will serve as Deputy Chairman of AXIS Re. These new roles
for Dr. Mayr and Mr. Morrill are in addition to their existing
responsibilities as CEO of AXIS Re Europe and CEO of AXIS Re U.S.,
respectively.
Mr. Fischer joined AXIS Capital at its formation in 2001 and has served
as CEO and President of AXIS Re Bermuda since that time. He has built a
leading global catastrophe reinsurance business and led the development
of AXIS Capital’s catastrophe risk management capabilities. Previously,
Mr. Fischer held a number of senior reinsurance underwriting positions
in the industry. He holds both a B.S. in engineering and an M.B.A from
Columbia University.
John Charman, CEO and President of AXIS Capital, said: “I am very
pleased to promote Bill to this senior management position. His strong
leadership skills, entrepreneurial spirit and extensive knowledge and
experience in the global reinsurance marketplace position him well for
his new management responsibilities across our global reinsurance
operations. This promotion recognizes Mr. Fischer’s increased
responsibilities and the confidence I have in his ability to drive the
continued growth and success of AXIS Re’s global franchise.”
AXIS Capital is a Bermuda-based global provider of specialty lines
insurance and treaty reinsurance with shareholders’ equity at March 31,
2009 of $4.5 billion and locations in Bermuda, the United States,
Europe, Singapore, Canada and Australia. Its operating subsidiaries have
been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A”
(“Excellent”) by A.M. Best. AXIS Capital has been assigned a senior
unsecured debt rating of A- (stable) by Standard & Poor’s and Baa1
(stable) by Moody’s Investors Service. For more information about AXIS
Capital, visit our website at www.axiscapital.com.
Investor
AXIS Capital Holdings Limited
Linda Ventresca,
441-405-2727
info@axiscapital.com
or
Media
Kekst
and Company
Joseph Kuo, 212-521-4800
