<SEC-DOCUMENT>0001144204-18-039664.txt : 20180905
<SEC-HEADER>0001144204-18-039664.hdr.sgml : 20180905
<ACCEPTANCE-DATETIME>20180724170345
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-18-039664
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20180724

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:		CORRESP

	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>
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<TYPE>CORRESP
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 70%; font-size: 10pt">&nbsp;<IMG SRC="axis_logo.jpg" ALT=""></TD>
    <TD STYLE="width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>AXIS Capital Holdings
        Limited</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">92 Pitts Bay Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pembroke, HM 08</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">P.O. Box HM 1254</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hamilton HM FX, Bermuda</P></TD></TR>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">July 24,
2018</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><U>VIA EDGAR</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ms. Cecilia Blye</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0">Chief, Office of Global Security Risk</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0">Division of
Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0">100 F
Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 63.95pt">Re:</TD><TD STYLE="text-align: left; padding-right: 1.35pt">Letter dated June 29, 2018</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 64pt; text-align: left; text-indent: 0pt">AXIS
Capital Holdings Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 209.65pt 0pt 64pt"><B>Form 10-K for Fiscal Year Ended December
31, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.5in 0pt 64pt"><B><U>File No. 001-31721&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.5in 0pt 64pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Ms. Blye:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.8pt 0pt 0">We are responding to the comment letter, dated June
29, 2018, from the staff (the &quot;Staff&quot;) of the U.S. Securities and Exchange Commission (the &quot;Commission&quot;) concerning
AXIS Capital Holdings Limited's (the &quot;Company&quot;, &quot;AXIS&rdquo;, &ldquo;we&quot; or &quot;our&quot;) Form 10-K for
the fiscal year ended December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Set forth below is the Company's response to the comment
raised by the Staff. For the convenience of the Staff, we have repeated the Commission's comment (displayed in italics) immediately
prior to our response.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>General</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><I>1.</I></TD><TD STYLE="padding-right: 10.5pt"><I>You state on page 5 of the 10-K that Marsh &amp; McClellan Companies accounted for 11% and
Aon PLC accounted for 13% of your 2017 insurance gross premiums written by broker, and you state on page 6 of the 10-K that Marsh
&amp; McClellan accounted for 31% and Aon accounted for 23% of your 2017 reinsurance gross premiums written by broker. In a publicly
available letters to the staff dated August 19, 2016, and March 29, 2018, respectively, Marsh &amp; McLellan and Aon described
receiving revenue from insurance activities related to Sudan and Syria.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 22.5pt; text-indent: 0.5pt"><I>As you know, Sudan and
Syria are designated by the Department of State as state sponsors of terrorism, and are subject to U.S. economic sanctions and/or
export controls. Please describe to us the nature and extent of any past, current, and anticipated contacts with Sudan and Syria
since your letter to us dated January 27, 2016, including contacts with their governments, whether through subsidiaries, affiliates,
distributors, partners, customers or other direct or indirect arrangements. Please also discuss the materiality of those contacts,
in quantitative terms and in terms of qualitative factors that a reasonable investor would deem important in making an investment
decision. Tell us the approximate dollar amounts of revenues, assets and liabilities associated with those countries for the last
three fiscal years and the subsequent interim period. Address for us the potential impact of the investor sentiment evidenced by
divestment and similar initiatives that have been directed toward companies that have operations associated with U.S.-designated
state sponsors of terrorism.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.8pt 0pt 0"><U>Response</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.8pt 0pt 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.8pt 0pt 0">AXIS has conducted a review of its records of the
last three fiscal years and subsequent interim periods and hereby confirms that the Company has not identified any direct or indirect
contacts with the governments of Sudan or Syria or any individuals or entities targeted by U.S. sanctions applicable to Sudan or
Syria. Specifically, the Company, its subsidiaries and branches do not have any offices or other assets, physical presence, operations,
employees or agents in Sudan or Syria. The Company has not provided any services, products, information or technology to the government
of Sudan or Syria, or any entity that is otherwise targeted by U.S. sanctions applicable to Sudan or Syria. The Company has not
entered into any agreements, commercial arrangements or other contracts with the governments of Sudan or Syria, or entities they
control or any entity that is otherwise targeted by U.S. sanctions applicable to Sudan or Syria. The Company has not made, and
does not plan to make, any investments directly, or to its knowledge, indirectly, in the governments, or entities controlled by
the governments of Sudan or Syria or an entity that is otherwise targeted by U.S. sanctions applicable to Sudan or Syria.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 0">As a multinational organization, the Company through
its operating subsidiaries and branches provides insurance and reinsurance products and services to third party businesses and
individuals around the world, some of which are arranged through insurance brokers, such as Marsh &amp; McClellan Companies and
Aon PLC. However, to the extent that the global activities of these third parties could be considered to be indirect contacts with
Sudan or Syria, the Company&rsquo;s internal policies, processes and controls are designed to limit the risk of noncompliance with
applicable U.S. economic sanctions and export controls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.9pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.15pt 0pt 0">Additionally, when applicable, the Company&rsquo;s
policies and treaties include a sanctions exclusion clause that specifically excludes coverage and claims for risks that breach
relevant U.S. economic sanctions and export controls. Further, if the Company determines that a particular transaction involves
a sanctioned country or prohibited party, as defined by U.S. economic and trade sanction regulations, the Company has processes
and procedures in place to comply with the remedial measures required by applicable law including but not limited to, appropriate
notifications to the U.S. Department of the Treasury&rsquo;s Office of Foreign Assets Control (&ldquo;OFAC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0">The Company does not have and has not held any assets,
conducted operations in, or had any other direct or indirect contact with the governments of Sudan or Syria, or entities they control
or any entity that is otherwise targeted by U.S. sanctions applicable to Sudan or Syria. While a quantitative analysis of all potential
third party exposure in the Company's portfolio for coverage offered through the issuance of insurance and reinsurance contracts
in any given geographic region is not possible due to the fact that the coverages are not static and depend on the business being
conducted by the insureds, the Company believes the exposure is <I>de minimis</I> and qualitatively the Company's compliance policies
and controls are designed to minimize the risk of noncompliance with applicable rules and regulations and reputational risks to
the Company and its shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.55pt 0pt 0">Given the Company's compliance with applicable U.S.
sanctions laws and regulations and the <I>de minimis</I> nature of any possible direct or indirect contact with Sudan or Syria,
we believe that any such contact is not a material investment risk and would not be deemed important to a reasonable investor
in making an investment decision about the Company and would not have an impact on the Company&rsquo;s reputation or share value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 26.25pt 0pt 0">If you have any questions regarding the responses
to these comments or require additional information, please contact me at (441) 405-2604.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Peter J. Vogt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Peter J. Vogt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
