<SEC-DOCUMENT>0001193125-18-016993.txt : 20180123
<SEC-HEADER>0001193125-18-016993.hdr.sgml : 20180123
<ACCEPTANCE-DATETIME>20180123113556
ACCESSION NUMBER:		0001193125-18-016993
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180123
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180123
DATE AS OF CHANGE:		20180123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXIS CAPITAL HOLDINGS LTD
		CENTRAL INDEX KEY:			0001214816
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		18541490

	BUSINESS ADDRESS:	
		STREET 1:		92 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM 08
		BUSINESS PHONE:		(441) 496-2600

	MAIL ADDRESS:	
		STREET 1:		92 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM 08
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d450414d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Current Report </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January 23, 2018 </B></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>AXIS CAPITAL HOLDINGS LIMITED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name Of Registrant As Specified In Charter) </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Bermuda</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-31721</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>98-0395986</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State of Incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Commission File No.)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>92 Pitts Bay Road </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pembroke, Bermuda HM 08 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(441) 496-2600 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or address, if changed since last report) </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e(4)(c)) </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or
Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company &#9744; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the changes to the operating model of AXIS Capital Holdings Limited, a Bermuda company (the &#147;Company&#148;), which are described below,
Christopher DiSipio, Chief Executive Officer of AXIS Accident &amp; Health, will be leaving the Company effective April 1, 2018.</P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January 23, 2018, the Company issued a press release announcing changes to
its operating model designed to position the Company for accelerated growth and efficiency.&nbsp;The full text of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be
deemed to be &#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in
any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="90%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Press release dated January 23, 2018</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT INDEX </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:55.75pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description of Document</B></P></TD></TR>


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<TD VALIGN="top">99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="d450414dex991.htm">Press release dated January 23, 2018 </A></P></TD></TR>
</TABLE> <P STYLE="font-size:24pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: January 23, 2018 </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>AXIS CAPITAL HOLDINGS LIMITED</B></P></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Conrad Brooks</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conrad Brooks</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Counsel</P></TD></TR>
</TABLE></DIV>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d450414dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Investor Contact</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Media Contact</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Linda Ventresca</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Joe Cohen</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">AXIS Capital Holdings Limited</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">AXIS Capital Holdings Limited</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><U>investorrelations@axiscapital.com</U></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><U>joseph.cohen@axiscapital.com</U></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(441) <FONT STYLE="white-space:nowrap">405-2727</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">(212) <FONT STYLE="white-space:nowrap">715-3524</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AXIS STRENGTHENS OPERATING MODEL, ACCELERATING STRATEGY TO </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DRIVE PROFITABLE GROWTH </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Capitalizing on the Changes Transforming the Insurance Marketplace, AXIS </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Takes Actions to Invest in Customer-Centricity; Strengthens Commitment </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>to Introducing Innovative New Approaches and Ways of Working </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
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<TD ALIGN="left" VALIGN="top"><I>Launches Global Underwriting and Analytics unit; Eric Gesick named Group Chief Underwriting Officer</I> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><I>Realigns its Accident</I><I></I><I>&nbsp;&amp; Health business, merging units into core Insurance and Reinsurance segments</I> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><I>Introduces integrated functional models for IT and Finance</I> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PEMBROKE, Bermuda &#151;
January<U></U>&nbsp;23, 2018</B> &#151; To capitalize on sweeping business, economic and technological changes transforming the (re)insurance marketplace, AXIS Capital Holdings Limited (&#147;AXIS Capital&#148; or the &#147;Company&#148;) (NYSE:
AXS) today announced that it is strengthening its operating model, making the Company &#147;future-ready&#148; and further positioning it for long-term profitable growth. The enhancements are part of an ongoing strategy by AXIS to be a global leader
in specialty insurance and reinsurance, with a focus on being a partner of choice for key clients and partners in distribution. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;These actions to
strengthen our operating model set AXIS on a powerful path forward as we accelerate our strategy to be a leader in specialty insurance and reinsurance while increasing our efficiency and enhancing our profitability. Customer centricity is paramount
to our thinking, and these changes will also allow us to improve the fitness of our company, making AXIS more agile and ready for the future so it can capitalize on an evolving market &#150; all while providing greater value to our clients and
delivering stronger returns to our shareholders,&#148; said Albert Benchimol, President and CEO of AXIS Capital. &#147;Our goal is to further differentiate AXIS in the market by putting in place the tools and means to empower our underwriters,
claims and actuarial teams, ultimately unleashing the power of our people to benefit all our stakeholders.&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Today&#146;s announcement follows AXIS&#146; recent acquisition of Novae, and the latest enhancements are a
continuation and acceleration of AXIS&#146;s initiatives focused on establishing a differentiated market position and consistently delivering superior value creation. Added Mr.&nbsp;Benchimol: &#147;As we continue to integrate Novae into our
business and grow our scale and relevance, now is the perfect time to make these enhancements to our operating model.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Launch of Global
Underwriting and Analytics unit; Eric Gesick Named Group Chief Underwriting Officer </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AXIS is launching an enterprise-wide Global Underwriting and
Analytics unit (GUA). GUA will partner with AXIS&#146; underwriting, claims and actuarial teams within the business segments, arming them with greater insights, resources and tools to deliver even more value and services to clients and distribution
partners. This will include leveraging enhanced data and analytics capabilities to help inform decision-making, intelligently applying InsurTech, as well as optimizing group portfolio management and capital allocation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Through our Global Underwriting and Analytics unit, we are creating a Data and Analytics Center of Excellence that builds upon our philosophy of
coupling human ingenuity with powerful tools and insights. GUA will enhance our ability to deliver disciplined underwriting and offer even more value to our clients and partners,&#148; said Mr.&nbsp;Benchimol. &#147;Eric is the ideal candidate to
lead GUA. A proven leader within AXIS, he brings deep knowledge of our business and the market, and a keen understanding of the transformations that are reshaping our industry.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.<U></U>&nbsp;Gesick, who currently serves as Chief Risk and Actuarial Officer, will continue to report to Mr.<U></U>&nbsp;Benchimol and serve on the
Company&#146;s Executive Committee. He has been a member of AXIS&#146; management team since joining the Company in 2012. His current responsibilities will be handled by Daniel Draper, who has been promoted to Chief Actuary, and Carol Collins, who
has been appointed Chief Risk Officer. Both will report to Peter Vogt, Chief Financial Officer. Mr.<U></U> Draper and Ms.<U></U>&nbsp;Collins currently serve as Chief Risk Analytics Officer and Head of Risk Governance, respectively. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AXIS also announced that Meghan Anzelc, Ph.D., has been promoted to Chief Analytics Officer, reporting to Mr.&nbsp;Gesick. Dr.<U></U>&nbsp;Anzelc, who is
currently Head of Data and Analytics for the Company&#146;s insurance business, has expanded her role to include guiding the growth of a global Data and Analytics Center of Excellence. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Realignment of A&amp;H Business into Core Insurance and Reinsurance Segments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AXIS is realigning its Accident&nbsp;&amp; Health business, merging the units into its core Insurance and Reinsurance segments. The move is expected to enable
AXIS&#146; to continue focusing on client needs and to deliver synergies in combination with AXIS&#146; P&amp;C insurance and reinsurance businesses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;A&amp;H is a successful and established global business that we expect to continue to grow profitability and be an important contributor to AXIS,&#148;
said Mr.&nbsp;Benchimol. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The realignment is also expected to create more opportunities for AXIS&#146; A&amp;H teams to leverage customer and partner
relationships across the business, better tap into existing client networks and help ensure seamless delivery of A&amp;H and more traditional P&amp;C (re)insurance products to AXIS&#146; international clients. Further, the move is expected to help
AXIS&#146; P&amp;C reinsurance team leverage the geographic expansion and client relationships achieved by its A&amp;H teams. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Current AXIS A&amp;H CEO
Chris DiSipio will serve as an advisor to help guide the transition and will depart AXIS in April 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are deeply appreciative of Chris for his
leadership in growing the A&amp;H business from a <FONT STYLE="white-space:nowrap">start-up</FONT> into a profitable $500<U></U>&nbsp;million business. We are proud of the achievements of the A&amp;H team and look forward to building on them and
continuing the profitable growth of these businesses,&#148; said Mr.&nbsp;Benchimol. &#147;Chris has decided that he would like to begin a new chapter in his career and we wish him the absolute best in his future endeavors.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Introduction of Integrated Functional Models for IT and Finance </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AXIS will introduce an integrated functional model for both its IT and Finance departments, enabling the Company to better leverage expertise across the
organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The change is expected to improve agility, increase efficiency and enable the functions to deliver greater value-added services to business
units and their customers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With the integrated IT functional model, AXIS will establish a strong foundation for growth, enabling the Company to better
support the business in differentiating initiatives and respond to customer needs. AXIS&#146; IT department will be led by Chief Information Officer Koorosh Beigian, who reports in to Chief Operations Officer Richard Strachan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In introducing an integrated &#147;future-ready&#148; functional model, AXIS&#146; Finance department will adapt its way of working and leverage technology to
devote more time to value-adding activities and further increase its capabilities as a strategic partner to the Company&#146;s business units. The Finance department will be led by Mr. Vogt. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Separately, AXIS will combine Ceded Re and its Third Party Capital business into a single strategic risk-funding
department. AXIS expects that the combined team will enable the company to optimize risk-funding activities and deliver greater capacity to clients and partners in distribution. Ceded Re will report in to Ben Rubin, Head of AXIS Ventures, who
reports to Mr.<U></U> Benchimol. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Said Mr.<U></U>&nbsp;Benchimol, &#147;A very exciting opportunity stands before us as we reinvest in our business to
make AXIS more agile and responsive and further position our company to lead and win in today&#146;s market, as well as into the future.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
aforementioned organizational changes will be in place during the second quarter of 2018 and teams throughout AXIS are commencing a detailed planning phase to implement the Company&#146;s future-ready, customer-centric operating model. AXIS expects
to incur <FONT STYLE="white-space:nowrap">pre-tax</FONT> charges associated with implementation that result in <FONT STYLE="white-space:nowrap">run-rate</FONT> cost savings, a portion of which will be reinvested in initiatives focused on
customer-centricity and reinventing the way the Company works. In both cases, these will be incremental to those previously announced for the integration of Novae.<U></U>&nbsp;AXIS will provide updates as appropriate, with its first update no later
than the Company&#146;s reporting of financial results for the first quarter of 2018. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>About AXIS Capital </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders&#146; equity at September&nbsp;30, 2017,
of $5.5&nbsp;billion and locations in Bermuda, the United States, Europe, Singapore, Middle East, Canada, and Latin America. Its operating subsidiaries have been assigned a rating of &#147;A+&#148; (&#147;Strong&#148;) by Standard&nbsp;&amp;
Poor&#146;s and &#147;A+&#148; (&#147;Superior&#148;) by A.M. Best. For more information about AXIS Capital, visit our website at <U>www.axiscapital.com</U>. Follow AXIS Capital on <U>LinkedIn</U> and <U>Twitter</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Cautionary Note Regarding Forward-Looking Statements </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including statements related to the changes to
AXIS&#146;s operating model announced herein. In some cases, these statements can be identified by the use of forward-looking words such as &#147;may&#148;, &#147;should&#148;, &#147;could&#148;, &#147;would&#148;, &#147;will&#148;,
&#147;anticipate&#148;, &#147;expect&#148;, &#147;potential&#148;, &#147;intend&#148; and similar expressions. These statements involve risks, uncertainties and assumptions. Actual events or results may differ materially from AXIS&#146;s
expectations. Important factors that could cause actual events or results to be materially different from AXIS&#146;s expectations include, with respect to the changes to AXIS&#146;s operating model, the failure to realize the expected benefits
resulting from the changes to the operating model, as well as any unintended consequences of the changes to the operating model, such as distraction of our management and employees, business disruption, inability to attract or retain key personnel,
and reduced employee productivity. Other important factors that could cause actual events or results to be materially different from AXIS&#146;s expectations include (1)&nbsp;the cyclical nature of the re(insurance) business leading to periods with
excess underwriting capacity and unfavorable premium rates, (2)&nbsp;the occurrence and magnitude of natural and <FONT STYLE="white-space:nowrap">man-made</FONT> disasters, (3)&nbsp;losses from war, terrorism and political unrest or other
unanticipated losses, (4)<U></U>&nbsp;actual claims exceeding our loss reserves, (5)<U></U>&nbsp;general economic, capital and credit market conditions, (6)<U></U>&nbsp;the failure of any of the loss limitation methods we employ, (7)<U></U>&nbsp;the
effects of emerging claims, coverage and regulatory issues, including uncertainty related to coverage definitions, limits, terms and conditions, (8)<U></U>&nbsp;our inability to purchase reinsurance or collect amounts due to us, (9)<U></U>&nbsp;the
breach by third parties in our program business of their obligations to us, (10)<U></U>&nbsp;difficulties with technology and/or data security, (11)<U></U>&nbsp;the failure of our policyholders and intermediaries to pay premiums,
(12)<U></U>&nbsp;the failure of our cedants to adequately evaluate risks, (13)<U></U>&nbsp;inability to obtain additional capital on favorable terms, or at all, (14)<U></U>&nbsp;the loss of one or more key executives, (15)<U></U>&nbsp;a decline in
our ratings with rating agencies, (16)<U></U>&nbsp;the loss of business provided to us by our major brokers and credit risk due to our reliance on brokers, (17)<U></U>&nbsp;changes in accounting policies or practices, (18)<U></U>&nbsp;the use of
industry catastrophe models and changes to these models, (19)<U></U>&nbsp;changes in governmental regulations and potential government intervention in our industry, (20)<U></U>&nbsp;failure to comply with certain laws and regulations relating to
sanctions and foreign corrupt practices, (21)<U></U>&nbsp;increased competition, (22)<U></U>&nbsp;changes in the political environment of certain countries in which we operate or underwrite business including the United Kingdom&#146;s expected
withdrawal from the European Union, (23)<U></U>&nbsp;fluctuations in interest rates, credit spreads, equity prices and/or currency values, (24)<U></U>&nbsp;the failure to successfully integrate acquired businesses or realize the expected synergies
resulting from such acquisitions and (25)<U></U>&nbsp;the other factors set forth in AXIS&#146;s most recent report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and other documents filed
with the Securities and Exchange Commission. AXIS undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. </P>
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