AXIS CAPITAL HOLDINGS LTD — Director's Dealing 2012

Aug 16, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXIS CAPITAL HOLDINGS LTD (AXS)
CIK: 0001214816
Period of Report: 2012-08-14

Reporting Person: CHARMAN JOHN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-14	Common Shares	M	130000	$29.62	Acquired	2491131	Direct
2012-08-14	Common Shares	F	112623	$34.19	Disposed	2378508	Direct
2012-08-14	Common Shares	M	130000	$28.02	Acquired	2508508	Direct
2012-08-14	Common Shares	F	106540	$34.19	Disposed	2401968	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-14	Employee Stock Option	$29.62	M	130000	Disposed	2012-09-25	Common Shares (130000)	Direct
2012-08-14	Employee Stock Option	$28.02	M	130000	Disposed	2012-09-25	Common Shares (130000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	789526	Indirect
Common Shares	2585580	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 2, 2005.

F4: The Employee Stock Option vested in three equal installments commencing January 13, 2006.