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AXIS AGREES TO ACQUIRE THE RENEWAL RIGHTS TO KEMPER’S D&O BUSINESS
Pembroke, Bermuda, January 30, 2003 – AXIS Capital Holdings Limited announced today that its US subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by Kemper's Financial Insurance Solutions Group. In addition, John Kuhn, President of Financial Insurance Solutions, will join AXIS with a team of over 50 staff to head this new unit.
Dennis B. Reding, President of the US specialty insurance business said, ” We are very pleased that John and his talented team have chosen to join our US Insurance Group. This is a unique opportunity to obtain the renewal rights to one of the leading D&O and EPL underwriters in the US along with an acknowledged professional and experienced underwriting team. This new business unit will complement our existing portfolio of products and capabilities, and will fit nicely within our existing infrastructure.”
AXIS Capital Holdings Limited is a Bermuda based company with wholly owned (re)insurance subsidiaries which focus on reinsurance and specialty lines of insurance.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor'' for forward-looking statements. This release or any other written or oral statements made by or on behalf of the Company may include forward-looking statements that reflect the Company's current views with respect to future events and financial performance. All statements other than statements of historical fact included in this release are forwardlooking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may,'' “will,'' “expect,'' “intend,'' “estimate,'' “anticipate,'' “believe'' or “continue'' or their negative or variations or similar terminology.
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