Chairman Butt said, “I look forward to returning to the role of Chairman of AXIS Capital and want to reiterate the Board’s full support for our current strategy, our CEO Albert Benchimol and the Company’s strong management team. We are confident that Albert and the team will continue to build the value of the Company for the long-term benefit of all stakeholders.”AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at March 31, 2012 of $5.9 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. AXIS Capital and AXIS Specialty Finance LLC have been assigned senior unsecured debt ratings of A- (stable) by Standard & Poor’s and Baa1 (stable) by Moody’s Investors Service. For more information about AXIS Capital, visit our website at www.axiscapital.com.