David Pesce Appointed Director Of Surety For AXIS Insurance In U.S.

AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE: AXS) today announced the appointment of David Pesce as Director of Surety for AXIS Insurance. Mr. Pesce will be responsible for building and managing AXIS Insurance’s surety bond business in the U.S. Mr. Pesce reports to Richard Zarandona, head of AXIS Insurance’s Design/Contractors Professional, Environmental & Surety practice, and is based in Berkeley Heights, NJ.

Peter Wilson, President of AXIS Insurance’s U.S. operations, commented on the appointment, stating, “With over 26 years of experience in the surety business, Dave has the expertise and deep relationships to further develop and grow our surety product line meaningfully over time. We look forward to working with Dave as we continue to expand our offering of valued products and services to a myriad of clients and brokers.”

Mr. Pesce has an extensive background encompassing contract surety, commercial surety and international surety. He joins AXIS Insurance following seven years at Berkley Surety Group, where he was a key member of the senior management team with responsibility for all aspects of its contract surety business. He began his career at Seaboard Surety Company and held home office and field positions at AIG Surety and Liberty Mutual Surety.

Mr. Pesce is Chairman of the National Association of Independent Sureties and a frequent speaker at construction industry conferences. A Certified Construction Industry Financial Professional (CCIFP), he holds a bachelor’s degree in Mathematics from Lafayette College in Easton, PA.

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at March 31, 2013 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”) with a positive outlook by A.M. Best. For more information about AXIS Capital, visit www.axiscapital.com.

Copyright Business Wire 2010

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