[February 22, 2013]

AXIS Capital Declares Quarterly Dividends on Common and Preferred Shares

AXIS Capital Holdings Limited ("AXIS Capital") (NYSE: AXS) today announced that the Company's Board of Directors has declared a quarterly dividend of $0.25 per common share. The common dividend will be payable on April 15, 2013 to the shareholders of record at the close of business on March 28, 2013.

In addition, the Board declared a dividend of $0.453125 per Series A 7.25% Preferred Share, a dividend of $1.875 per Series B 7.50% Preferred Share and a dividend of $0.429688 per Series C 6.875% Preferred Share. The Series A Preferred Share dividend is payable on April 15, 2013 to shareholders of record at the close of usiness on March 28, 2013. The Series B Preferred Share dividend is payable on June 3, 2013 to shareholders of record at the close of business on May 15, 2013. The Series C Preferred Share dividend is payable on April 15, 2013 to shareholders of record at the close of business on March 28, 2013.

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at December 31, 2012 of $5.8 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") 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.

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