AXIS CAPITAL HOLDINGS LTD — Director's Dealing 2012

Aug 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXIS CAPITAL HOLDINGS LTD (AXS)
CIK: 0001214816
Period of Report: 2012-08-16

Reporting Person: REDING DENNIS (EVP & Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-16	Common Shares	M	35000	$13.4525	Acquired	372586	Direct
2012-08-16	Common Shares	S	35000	$33.6766	Disposed	337586	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-16	Employee Stock Option	$13.4525	M	35000	Disposed	2012-11-13	Common Shares (35000)	Direct

Footnotes

F1: 35,000 shares sold consist of the trades listed on Exhibit 1.

F2: The Employee Stock Option vested in three annual equal installments commencing November 14, 2003.