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Cook to leave AXIS

Bermudian reinsurer AXIS Capital Holdings Limited will be losing its chief financial officer due to "personal reasons".

Andrew Cook, who has been a part of AXIS Capital since its inception, will remain with the company until 1 April 2006 to ensure that his successor experiences a smooth transition into the role.

The rapidly-expanding post-9/11 start-up is now conducting an executive search to secure Cook's replacement.

Cook said of his decision, "With our most recent capital raising activities, I believe I will be leaving AXIS in a position of continued financial strength. The past couple of years have been difficult for me on a personal basis, and I look forward to being able to spend more time with my family."

AXIS Capital CEO and president John Charman commented: "As our chief financial officer since our founding, Andrew has been instrumental in advancing our financial reporting practices, directing our activities in the capital markets and developing our relationships with both the investment community and the rating agencies. Andrew has played a major part in the evolution of AXIS as a leading global insurance and reinsurance company. We are pleased that Andrew will be staying on to ensure a smooth transition in this position."

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