AXIS Capital Announces Dean Benner as Chief Investment Officer

June 30, 2008 4:15 PM EDT

PEMBROKE, Bermuda--(BUSINESS WIRE)--

AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS) announced today the appointment of Dean Benner as Executive Vice President and Chief Investment Officer, effective June 30, 2008. Dean will report to David Greenfield, CFO.

Dean Benner joins AXIS with over thirty years of experience in investment management. Most recently, Dean was a Managing Director with Deutsche Asset Management, where he provided investment management services to major insurance clients. In this capacity, Dean was responsible for the performance of all asset classes for his clients and consulted with clients on all matters related to investment strategy and asset allocation. Prior to his tenure at Deutsche Asset Management, Dean had overseen the entire range of fixed income assets through management positions at financial services firms including Credit Suisse Asset Management, Brundage Story and Rose, LLC and Chase Investors Investment Management. At Brundage Story and Rose LLC, an independent investment counseling firm, he grew institutional fixed income assets under management to over $3.5 billion. Dean holds a B.B.A. in Finance from the University of Notre Dame and an M.B.A. from Loyola University of Chicago.

David Greenfield, CFO, commented: "As our underwriting activities have evolved and expanded since inception, our investment portfolio has grown strongly and now stands at nearly $11 billion in total cash and investments. Through this period of growth, we have also targeted strategic and appropriate diversification for the overall portfolio. This has naturally introduced more complexity to the portfolio at the same time the financial markets more broadly have grown in complexity. We are delighted to have someone of Dean's qualifications join AXIS as Chief Investment Officer. Dean's background and significant experience in fixed income investment management and in insurance company investment management bring additional breadth and depth to management of our investment portfolio. I look forward to working with Dean in his role as Chief investment Officer."

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at March 31, 2008 of $5.4 billion and locations in Bermuda, the United States, Europe, Australia and Singapore. Its operating subsidiaries have been assigned a rating of "A" ("Excellent") by A.M. Best and a rating of "A" ("Strong") with a positive outlook by Standard & Poor's. AXIS Capital has been assigned a senior unsecured debt rating of Baa1 (stable) by Moody's Investors Service and BBB+ (stable) by Standard & Poor's. For more information about AXIS Capital, visit our website at www.axiscapital.com.

Source: AXIS Capital Holdings Limited

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