AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE: AXS) today announced that Christopher DiSipio has joined AXIS Insurance in Berkeley Heights, NJ as Chief Executive Officer of AXIS Insurance’s newly formed Accident & Health Division. Chris has over 24 years of experience in international accident, health and life insurance markets.

Chris will lead the establishment of AXIS Insurance’s Accident & Health Division in the U.S. market and expand this presence in the U.K., European, Canadian, Australian and Asian markets over time. AXIS Insurance’s Accident & Health Division will offer Corporate Personal Accident and Business Travel products as well as Specialty and Catastrophe Health products and ancillary P&C coverages.

Dennis Reding, Chief Operating Officer of AXIS Capital, commented: “We are very pleased that Chris has decided to join us. His depth of knowledge of the business, experience in international markets, and overall leadership abilities make him especially well-suited to build AXIS Insurance’s accident and health business and to manage international growth. The addition of Chris to the AXIS Insurance management team is a significant step towards our goal of building an international accident and health insurance presence defined by quality of results.”

Most recently, Chris was Chief Operating Officer, Accident, Health and Life, at the Chubb Corporation, where he was responsible for developing and implementing Chubb’s accident, health and life strategy worldwide. Chris joined Chubb in 1999 and was elected Managing Director in 2002. Chris began his career at CNA Insurance Company as an underwriter of accident and health business. At CNA, Chris held various leadership positions including Senior Vice President, Group Benefits Division, and Senior Vice President, International Division. Chris holds a B.A. in History from Boston College.

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2008 of $4.6 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia. Its operating subsidiaries have been assigned a rating of “A” (“Excellent”) by A.M. Best and a rating of “A” (“Strong”) 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.