AXIS Capital adds Michael Millegan and Axel Theis to its Board as Independent Directors

– BERMUDA, Pembroke –  AXIS Capital Holdings Limited (NYSE: AXS) today announced the appointments of Michael Millegan and Axel Theis to its Board of Directors, effective April 1, bringing the board to eleven members, ten of whom are independent.

“Michael and Axel are respected and accomplished global business leaders who each bring tremendous wisdom and perspective, gleaned from their years of experience working at the highest levels of world class organizations,” said Board Chairman, Henry Smith. “Their insights will be invaluable in guiding and challenging the Company to further accelerate its progress and drive profitable growth.”

Mr. Millegan has been appointed to the Audit and Compensation Committees while Dr. Theis will serve on the Audit and Risk Committees.

Henry Smith added: “We will benefit from Michael’s deep leadership expertise which crosses digital technology and platforms, cybersecurity, supply chain management, and sales and marketing. Axel brings a wealth of insurance industry knowledge including an expansive understanding of the global P&C space.”

About Michael Millegan

Mr. Millegan has held numerous executive leadership and management positions within Verizon, where he led large-scale and large-scope business units and helped to usher in and navigate through a significant transformation in the telecom industry. As President of Verizon Global Wholesale Group, he was responsible for $11 billion in sales revenue, 13,000 employees, and $1 billion in capital spending, as well as leading the Verizon Digital Media Services Group. Mr. Millegan presently serves as Founder and CEO of Millegan Advisory Group 3 LLC and is a public Board Director for the Portland General Electric Company, as well as for CoreSight Realty Corporation.

“The (re)insurance industry is going through a period of digital transformation that is impacting all aspects of how carriers do business. I look forward to working with AXIS leadership to help the Company further leverage data and technology to advance its business priorities,” added Mr. Millegan.

He holds a bachelor’s degree and MBA from Angelo State University.

About Axel Theis

Dr. Theis has been at the helm of 12 different companies during a distinguished career in (re)insurance that spanned more than three decades. Most recently, he served for five years as a member of the Board of Management of Allianz. This was immediately preceded by an eight-year tenure as CEO of Allianz Global Corporate & Specialty SE, following several years as CEO of Allianz Global Risks Rückversicherungs. Dr. Theis currently serves on the Board of ProCurand GmbH & Co KG and chairs the ProCurand Foundation. He also sits on the Board of two start-ups.

“AXIS is a company with great potential and significant positive momentum in its core underwriting performance. I look forward to working with the Board and AXIS management team to build upon the significant work that has been done, and help take the business to the next level,” said Dr. Theis.

He received a doctorate in law from the Eberhard Karl University of Tübingen.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2020, of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, and Canada. Its operating subsidiaries have been assigned a rating of “A+” by Standard & Poor’s and “A” by A.M. Best.

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