AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE: AXS) today announced that its Board of Directors has declared a quarterly dividend of $0.20 per common share. The dividend is payable on April 15, 2009, to shareholders of record at the close of business on March 31, 2009.

In addition, the Board declared a dividend of $0.453125 per Series A 7.25% Preferred Share and a dividend of $1.875 per Series B 7.5% Preferred Share. The Series A Preferred Share dividend is payable on April 15, 2009, to shareholders of record at the close of business on March 31, 2009 and the Series B Preferred Share dividend is payable on June 1, 2009, to shareholders of record at the close of business on May 15, 2009.

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2008 of $4.5 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and Australia. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. AXIS Capital has been assigned a senior unsecured debt rating of A- (stable) by Standard & Poor’s and Baa1 (stable) by Moody’s Investors Service. For more information about AXIS Capital, visit our website at www.axiscapital.com.