AXIS Announces New Bermuda-based Financial Lines Capability

AXIS Capital Holdings Limited announced today that as of July 7, it will provide Directors & Officers Liability Insurance and other financial lines coverages through its Bermuda-based subsidiary, AXIS Specialty Limited.

The company will offer limits of liability up to $25 million for financial lines coverages underwritten on an excess basis. AXIS already offers a broad array of financial lines coverages, including Directors & Officers Liability, Employment Practices Liability and Fiduciary Liability Insurance, on a primary and excess basis through its U.S.-based insurance subsidiaries. “The AXIS U.S. Insurance Companies have separate insuring capacity of $25 million for financial lines coverages underwritten in the United States,” said the announcement

John Charman, AXIS President and CEO, stated, “There is a heavy demand for greater insurance capacity in the D&O arena, with insurance brokers looking to Bermuda companies to provide the additional limits their corporate customers need. As a financially strong company with no legacy exposures, we are well positioned to leverage our expertise in this area and capitalize on new business opportunities in the Bermudian marketplace.”