AXIS Capital Declares Quarterly Dividends on Preferred Shares

Company Website: http://www.axiscapital.com/
PEMBROKE, Bermuda -- (Business Wire)

AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS) today announced that the Company’s Board of Directors has declared a quarterly dividend of $0.24 per common share. The common dividend will be payable on January 17, 2012 to the shareholders of record at the close of business on December 30, 2011.

In addition, the Board declared a dividend of $0.453125 per Series A 7.25% Preferred Share and a dividend of $1.875 per Series B 7.5% Preferred Share. The Series A Preferred Share dividend is payable on January 17, 2012 to shareholders of record at the close of business on December 30, 2011 and the Series B Preferred Share dividend is payable on March 1, 2012 to shareholders of record at the close of business on February 15, 2012.

John Charman, Chief Executive Officer and President of AXIS Capital, said: "AXIS Capital has a track record of generating significant value for shareholders over the long term. An important component of this value creation has been the return of capital to shareholders in the form of share repurchases and a growing stream of common dividends. We are pleased to announce this eighth annual increase in AXIS Capital’s common share dividend since we began paying dividends with our initial public offering in 2003."

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2011 of $5.4 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) with a stable outlook by Standard & Poor’s and “A” (“Excellent”) with a positive outlook by A.M. Best. AXIS Capital and AXIS Specialty Finance LLC have been assigned senior unsecured debt ratings of A- (stable) by Standard & Poor’s and Baa1 (stable) by Moody’s Investors Service. For more information about AXIS Capital, visit our website at www.axiscapital.com.

Contacts:

Investor
AXIS Capital Holdings Limited
Linda Ventresca, 441-405-2727
info@axiscapital.com
or
Media
Kekst and Company
Michael Herley, 212-521-4897
michael-herley@kekst.com

Source: AXIS Capital Holdings Limited