AXIS Reinsurance Company Approved By U.S. Treasury as Acceptable Surety on Federal...

AXIS Reinsurance Company Approved By U.S. Treasury as Acceptable Surety on Federal Bonds

PEMBROKE, Bermuda--(Business Wire)--
AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS) today
announced that AXIS Reinsurance Company, one of its U.S. operating
subsidiaries, has been added to the U.S. Department of the Treasury's
Listing of Acceptable Sureties on Federal Bonds effective April 7,
2008.

The U.S. Treasury certification of AXIS Reinsurance Company as an
acceptable surety company for Federal bonds applies to contract surety
bonds for government projects and the bonding of employee benefit plan
fiduciaries as required under the Employee Retirement Income Security
Act of 1974 (ERISA).

AXIS Reinsurance Company (NAIC #20370) is a New York-domiciled
property and casualty insurance and reinsurance company that is
licensed to underwrite surety/fidelity bond coverage in 48 states and
the District of Columbia. As a wholly owned subsidiary of AXIS
Capital, AXIS Reinsurance Company carries the AXIS Capital group
rating of "A" ("Excellent") XV by A.M. Best and "A" ("Strong") with a
positive outlook by Standard & Poor's.

AXIS Capital is a Bermuda-based global provider of specialty lines
insurance and treaty reinsurance with shareholders' equity at December
31, 2007 of $5.2 billion and locations in Bermuda, the United States,
Europe and Singapore. 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.

Investor:
AXIS Capital Holdings Limited
Linda Ventresca, 441-405-2727
info@axiscapital.com
or
Media:
Kekst and Company
Joseph Kuo, 212-521-4800

Copyright Business Wire 2008