AXIS CAPITAL HOLDINGS LTD — Director's Dealing 2011

Sep 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXIS CAPITAL HOLDINGS LTD (AXS)
CIK: 0001214816
Period of Report: 2011-09-01

Reporting Person: CHARMAN JOHN (Director, CEO, President & Deputy Chair)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-01	Common Shares	M	450112	$12.50	Acquired	2312176	Direct
2011-09-01	Common Shares	F	198113	$28.40	Disposed	2114063	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-01	Employee Stock Option (right to buy)	$12.50	M	450112	Disposed	2011-09-30	Common Shares (450112)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	411304	Indirect
Common Shares	1804908	Indirect

Footnotes

F1: Mr. Charman disclaims beneficial ownership of the shares held by N.I.M.I.C. International Ltd.

F2: Mr. Charman disclaims beneficial ownership of the shares held by the Dragon Holdings Trust.

F3: The Employee Stock Option vested in three equal installments commencing January 1, 2002.