Summary of AXIS CAPITAL HOLDINGS LTD

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(a) On September 20, 2012, John R. Charman resigned as a member of the AXIS Capital Holdings Limited (the "Company") Board of Directors as a result of a disagreement with the Board regarding his June 2012 termination without cause as Chairman. At the time of his resignation, Mr. Charman served as a member of the Board's Executive Committee.

(d) Also on September 20, 2012, the Board of Directors, upon the recommendation of its Corporate Governance and Nominating Committee, elected Ms. Jane Boisseau as a member of the Board, effective December 4, 2012. Ms. Boisseau will join the Board as a Class I director and will serve on the Board's Audit Committee and Corporate Governance and Nominating Committee. Ms. Boisseau will receive the pro rata portion of the standard annual retainer for service on the Board (currently $100,000 per annum) based on the number of days remaining in the current director compensation year at December 4, 2012. Beginning January 1, 2013, Ms. Boisseau will also be entitled to receive an annual grant of common stock valued at $100,000 under the AXIS Capital Holdings Limited 2007 Long Term Equity Compensation Plan. Ms. Boisseau is not party to any transaction that is required to be reported pursuant to Item 404(a) of Regulation S-K.

A copy of the Company's press release issued on September 20, 2012 regarding Mr. Charman's resignation and Ms. Boisseau's appointment is filed as Exhibit 99.1 to this Form 8-K.