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AXIS Corporate Overview

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					                                                                  AXIS Capital Holdings Limited
                                                                                                          AXIS Re • AXIS Insurance




     AXIS was founded with $1.7 billion of capital in November 2001 to
     address the need for quality capacity in the property and casualty
     insurance and reinsurance marketplace following the tragedy of              AXIS Capital                                       Financial Highlights
     September 11th.                                                              ($ in Millions)
                                                                                                                                   2010            2009
     In 2002, we established AXIS Capital Holdings Limited to serve as the
                                                                                 Gross Premiums Written                       $ 3,751         $ 3,587
     Bermuda-based holding company for the AXIS group of companies. We
     ended 2002, our first full year of operation, with $1.1 billion of gross    Net Premiums Written                         $ 3,148         $ 2,816
     premiums written, $265 million of net income and nearly $2.0 billion of     Net Premiums Earned                          $ 2,947         $ 2,792
     shareholders’ equity.
                                                                                 Underwriting Income                          $     409       $     525
     AXIS Capital became a public company in July 2003, and its common           Net Investment Income                        $     407       $     464
     shares are traded on the New York Stock Exchange under the symbol
                                                                                 Net Income Available
     “AXS.”
                                                                                 to Common Shareholders                       $     820       $     461
     We have grown prudently and profitably, and we have a proven record         Combined Ratio                                   88.7%           79.3%
     of achievement throughout all phases of the insurance/reinsurance           Total Assets                                 $16,446          $15,307
     market cycle. Moreover, we have weathered successfully the
     challenges presented by the various events that have adversely              Total Shareholders’ Equity                   $ 5,625          $ 5,500
     impacted our industry over the years, including major natural               Total Capitalization                         $ 6,619          $ 6,000
     catastrophes and the global financial crisis.

     By December 31, 2010, our capital base had grown to $6.6 billion with
     shareholders' equity of $5.6 billion, delivering a return on average        AXIS Capital                             Financial Strength Ratings
     common shareholders' equity for the year of 16.2%.
                                                                                 All of the AXIS insurance and reinsurance companies are rated:
     In 2010, AXIS Capital also achieved:                                               I    “A+” (Strong) by Standard & Poor’s
          I   Net income available to common shareholders of $820 million               I    “A” (Excellent) XV by A.M. Best
          I   Gross premiums written of $3.8 billion                                    I    “A2” by Moody’s
          I   A combined ratio of 88.7%
                                                                                 AXIS Capital                                        Total Capitalization
     As our company approaches its 10-year anniversary, we continue to
                                                                                 ($ in Millions)
     maintain our underwriting discipline and our focus on quality, profitable
     and sustainable business.                                                   $7,500
                                                                                                                                              $6,619
     AXIS Capital is well positioned for long-term success with highly
     diversified insurance and reinsurance operations across the globe, a        $6,250                                             $6,000
                                                                                                            $5,658
     strong balance sheet, a high-quality balanced investment portfolio, good
                                                                                 $5,000        $4,912                $4,960
     liquidity and significant financial flexibility.

                                                                                 $3,750


                                                                                 $2,500


                                                                                 $1,250


     www.axiscapital.com                                                             $0
                                                                                                   2006     2007      2008          2009       2010



Offices in BERMUDA • UNITED STATES • CANADA • UNITED KINGDOM • IRELAND • SPAIN • SWITZERLAND • SINGAPORE • AUSTRALIA • BRAZIL
                                                                                                              AXIS Capital Holdings Limited
                                                                                                                                     AXIS Re • AXIS Insurance




                                                                                       AXIS Re
     Our Business – Reinsurance                                                        2010 Gross Premiums Written = $1.8 Billion

     and Specialty Lines Insurance
                                                                                                   Professional Lines       Credit & Bond
                                                                                                         16%                    14%
     Since our company’s inception, AXIS has covered risks located in over 150
     countries. Today AXIS is a leading provider of reinsurance and specialty
     lines insurance on a worldwide basis through our operating subsidiaries                                                                Motor
                                                                                                                                             8%
     and branch networks in Bermuda, Europe, the United States, Canada,
     Singapore and Australia. We are structured into two distinct global                    Property
     underwriting platforms:                                                                 19%
                                                                                                                                             Liability
                                                                                                                                              13%
          I   AXIS Re provides reinsurance globally through our main offices in
              Bermuda, New York, Zurich and Singapore. Bermuda focuses on                                                               Engineering
                                                                                                                                           4%
              short-tail severity lines of business, while New York is our center of                                                Other
                                                                                                                                     1%
              excellence for U.S. casualty and professional lines business. Our                              Catastrophe
                                                                                                                25%
              Zurich office provides a broad spectrum of treaty reinsurance to
              Continental European clients as well as providing global specialty
              treaty and facultative support for engineering and trade credit &
              bond reinsurance. Singapore is a branch of Bermuda and serves as         AXIS Insurance
              our treaty operation in the Asia-Pacific region. In the past year,
                                                                                       2010 Gross Premiums Written = $1.9 Billion
              AXIS Re also has broadened its marketing capabilities with the
              opening of Representative Offices in Madrid and São Paulo.
                                                                                                                 Aviation
                                                                                                                   4% Credit & Political Risk
          I   AXIS Insurance operates through over 20 locations globally. We                             Terrorism             2%
              offer a broad array of primary and excess coverages, ranging from                             2%
              property & casualty; terrorism; aviation; marine; onshore, offshore                  Marine
              and renewable energy to D&O, E&O and other professional lines;                        12%

              network security and privacy coverages; design professionals &
                                                                                                                                               Professional Lines
              environmental liability; credit & political risk; MGA/MGU program
                                                                                                                                                     37%
              business; select accident & health products; and other specialized
              insurance solutions for niche market segments, including small
              businesses.
                                                                                              Property
                                                                                               31%
     Over the years, we have built a global franchise that is well diversified by
     product, geography, customer base and distribution channels. We continue
     to invest heavily in our operations to support future growth.                                                          Liability
                                                                                                                             12%

     The AXIS Advantage
     Our highly experienced underwriting, claims, modeling and actuarial teams         AXIS Capital                                Consolidated Combined Ratio
     have a breadth and depth of knowledge that distinguishes us in the
     industry. Clients around the globe value our expert underwriting, skilled         100%
     claims management, outstanding service and world-class coverages                  Average                             89.8%                         88.7%
                                                                                       82.1%
     backed by the exceptional financial strength and solid claims-paying ability       80%      77.3%       75.3%
                                                                                                                                        79.3%
     of the AXIS insurance and reinsurance companies.
                                                                                        60%


                                                                                        40%


                                                                                        20%


                                                                                         0%
      To learn more, visit www.axiscapital.com                                                   2006        2007          2008         2009             2010




Offices in BERMUDA • UNITED STATES • CANADA • UNITED KINGDOM • IRELAND • SPAIN • SWITZERLAND • SINGAPORE • AUSTRALIA • BRAZIL
                                                                                                                                                                AXSCO 02/2011

				
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