John Charman, the chief executive of Bermuda-based Axis Capital Holdings Ltd., will have to disclose information about a $118 million Bermuda trust in divorce proceedings with his wife, a London court has ruled.

Bloomberg News reported yesterday that multimillionaire Mr. Charman lost his bid to overturn a court order allowing his estranged wife, Beverley, to elicit material about the Bermuda-based trust, ?Dragon Holdings,? for a divorce settlement scheduled to be decided next year.

Mrs. Charman claimed that if the trust is included, the assets to be carved up between the couple are $221 million.

Mr. Charman, 53, and his wife, 52, separated in November, 2003 after 27 years together. The couple have two sons.

England?s Court of Appeal yesterday declined Mr. Charman?s bid to overturn the order, saying the documents were readily identifiable and likely to support Beverley Charman?s position.

?The court should in my view be astute to assist a wife where, without such assistance, the cards of the husband are likely to remain face down and the true extent of his assets undisclosed,? Justice Mark Potter, the president of Britain?s family courts division, said in the judgment yesterday.

Mr. Charman, who ranked as Britain?s 321st richest person by the Sunday Times newspaper in December, 2004, made his fortune in the Lloyd?s of London insurance market.

Mr. Charman, a former deputy chairman of Lloyd?s, formed Axis in late 2001 and moved the assets of Dragon Holdings from Jersey to Bermuda in 2002 when he took up residence on the Island.

In the hearing at the London Court of Appeal earlier this month, Mr. Charman?s lawyers argued that Dragon was a ?dynastic? trust set up for future generations of the Charman family, and should not be taken into account for divorce calculations.

However, Mrs. Charman said her husband had direct access to the trust funds, which she said amounted to as much as ?64.6 million ($112 million).

Mrs. Charman filed the action against her husband in the Bermuda Supreme Court cause book in early October.

She also contended Mr. Charman has an additional ?52.8 million ($91.52 million) of assets in his sole name.

Court records showed she held ?5.4 million ($9 million) of assets in her sole name, on top of ?2.1 million held jointly by the couple.

Mrs. Charman said these assets did not include a further ?25 million ($43 million) held in a trust for their sons.

Mr. Charman relocated to Bermuda when he set up Axis Capital, one of the post-September 11 insurers, four years ago. His wife remains at the family home in Kent.

A Press Association report at the time of the hearing said Mr. Charman offered his wife ?6 million ($10 million) and would leave her the family home, Dell House, in Sevenoaks, Kent, as a divorce settlement.

Mrs. Charman scorned the offer, the report said.