Axis U.S. Insurance Selects Aon's Media/Professional Insurance as Underwriting and Claims Manager

Business Wire, Dec 14, 2004

ALPHARETTA, Ga. -- AXIS U.S. Insurance announced today that AXIS Professional Liability (AXIS PRO) has appointed Media/Professional Insurance to serve as Managing General Underwriter for certain miscellaneous professional liability (MPL) lines of business.

Beginning January 1, 2005, AXIS will become the exclusive carrier for three existing Media/Professional Insurance programs: The Specialty E&O Plan, The CyberLiability Plus(TM) Insurance Program and the Custom Pro E&O Program.

John A. Kuhn, Executive Vice President and AXIS Global Leader for Professional Lines, said, "Media/Pro has an excellent reputation in the industry and they have a proven record of success spanning 25 years, making them a top market for MPL coverage. Their underwriting culture is consistent with the disciplined way we run our business, so we feel this is a very good fit from a management standpoint. We look forward to enhancing our Professional Lines product portfolio with these quality programs."

Leib Dodell, President and Chief Executive Officer of Media/Professional Insurance, said, "With solid financial strength and substantial E&O expertise, AXIS is the ideal partner for us. We look forward to working closely with AXIS to take our business to the next level."

As Managing General Underwriter, Media/Professional will underwrite, administer, market and handle claims on behalf of AXIS for:

--The Specialty E&O Plan - Errors and omissions coverage for more than 100 defined business classes, as well as for one-of-a-kind MPL risks.

--The CyberLiability Plus(TM) Insurance Program - E&O coverage for internet access providers; website developers, designers and consultants; web owners; content providers; internet/intranet/extranet hosts, managers, administrators and consultants; cyberspace software developers; companies engaged in e-commerce; and other companies whose principal business involves the dissemination of information and/or performance of services utilizing on-line technology.

--The Custom Pro E&O Program - E&O coverage for companies with annual revenues in excess of $250 million, and media liability coverage for companies with annual revenues in excess of $125 million.

Coverage for each of these programs will be provided by the AXIS U.S. Insurance companies, rated "A" (Excellent) by A.M. Best and "A" (Strong) by Standard & Poor's for claims-paying ability.

Timothy J. Covello, Senior Vice President of AXIS PRO, said, "A new source of revenue for us, our arrangement with Media/Pro represents one component of our overall strategy of continuing to build a profitable and diversified E&O franchise."

Details about the Specialty E&O Plan, CyberLiability Plus(TM) and Custom Pro E&O are available at www.mediaprof.com or by contacting Mary Schust, Chief Underwriting Officer of Media/Professional Insurance, at tel. 816-292-7206 or e-mail: mary.schust@mediaprof.com.

For information about AXIS PRO's MPL and media liability coverage capabilities, agents/brokers should contact either Jonathan Yeisley, Vice President - AXIS PRO, tel. 860-734-0708, e-mail: jonathan.yeisley@axiscapital.com; or Valerie McDonald, Underwriting Manager - AXIS PRO, tel. 860-734-0714, e-mail: valerie.mcdonald@axiscapital.com.

About AXIS

AXIS Professional Liability underwrites miscellaneous professional liability, media liability, lawyers professional liability insurance, accountants professional liability and other E&O coverages. Based in Glastonbury, Conn., AXIS Professional Liability is part of the Professional Lines unit of AXIS U.S. Insurance.

AXIS U.S. Insurance, headquartered in Alpharetta, Ga., is a unit of AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS). AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity in excess of $3.0 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" (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 the Company's website at www.axiscapital.com.

About Aon

Media/Professional Insurance, based in Kansas City, Mo., is part of Aon Underwriting Managers, a division of Aon Corporation (NYSE: AOC).

Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 51,000 professionals in 600 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.