AXIS CAPITAL HOLDINGS LTD — Director's Dealing 2012

Aug 10, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXIS CAPITAL HOLDINGS LTD (AXS)
CIK: 0001214816
Period of Report: 2012-08-09

Reporting Person: Gieryn Richard T JR (EVP, General Counsel & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-09	Common Shares	M	6000	$14.50	Acquired	142782	Direct
2012-08-09	Common Shares	S	6000	$34.1414	Disposed	136782	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-09	Employee Stock Option	$14.50	M	6000	Disposed	2012-12-11	Common Shares (6000)	Direct

Footnotes

F1: 6,000 shares sold consist of the trades listed on Exhibit 1.

F2: The Employee Stock Option vested in three annual equal installments commencing December 12, 2003.