AXIS Capital Holdings Limited ("AXIS Capital") announced today a $250,000 endowment to INSEAD, the business school for the world, to create a research fund on behalf of former AXIS Chair of the Board Michael Butt, OBE. The Michael A. Butt Fund for Business & Society by AXIS Capital will support the work of the Hoffmann Global Institute for Business and Society.

“Michael is one of the (re)insurance industry’s true trailblazers and his impact goes far beyond his many professional accomplishments. Michael is a leader who lifts people up and throughout his career he mentored and empowered countless professionals,” said Albert Benchimol, President and CEO of AXIS Capital. “Michael leveraged his influence as an industry leader to advocate for insurance to play a great role in creating a more sustainable world. With this endowment, our aim is to build on Michael’s legacy and inspire and enable a new generation of (re)insurance professionals to make a positive impact.”

The Hoffmann Global Institute for Business and Society is at the forefront of aligning INSEAD with the UN Sustainable Development Goals and aspires to make INSEAD a sustainable school. To achieve this, the Institute supports research on business and society and engages with future leaders, the global alumni community and external partners.

Ilian Mihov, Dean of INSEAD and Professor of Economics, said: “With research focused on the intersection of business and society, the Hoffmann Global Institute for Business and Society aims to bring fresh perspectives and innovative solutions to the most intractable global issues that threaten our future. I am grateful to AXIS and to Michael Butt for their extraordinary support which allows us to accelerate INSEAD’s ambition to develop business as a force for good.”

Mr. Butt earned an M.B.A. from INSEAD, Fontainebleau, France and served as a member of the INSEAD Board, Fontainebleau, France from 1982-2010. He was also Chairman of the INSEAD International Council from 1988-1991 and Chairman of the Development Capital Campaign from 2002-2009, later becoming a member of the Advisory Board. Mr. Butt retired as AXIS Chairman of the Board in 2020.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity of $5.1 billion at March 31, 2022, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.

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About INSEAD, The Business School for the World

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society. Our research, teaching and partnerships reflect this global perspective and cultural diversity.

With locations in Europe (France), Asia (Singapore), the Middle East (Abu Dhabi), and now North America (San Francisco), INSEAD's business education and research spans four regions. Our 166 renowned Faculty members from 41 countries inspire more than 1,500 degree participants annually in our Master in Management, MBA, Global Executive MBA, Specialised Master’s degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 11,000 executives participate in INSEAD Executive Education programmes each year.

INSEAD continues to conduct cutting-edge research and innovate across all our programmes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World. Visit our website at www.insead.edu.

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