Pembroke, Bermuda, November 20, 2001 –
AXIS Specialty Limited announced today that it has raised more than $1.6 billion through a private placement of its equity securities and has been authorized in Bermuda under The Insurance Act of 1978 to underwrite specialty lines of insurance and reinsurance. AXIS Specialty, a global insurance and reinsurance company, was formed in response to a significant market dislocation following the World Trade Center disaster. The founding investor in AXIS Specialty is Trident II, L.P., a private equity fund managed by MMC Capital. Other lead investors include private equity funds managed by JPMorgan Partners, Thomas H. Lee Partners, The Blackstone Group and Credit Suisse First Boston.… |
