Axis Capital Holdings Limited (NYSE:AXS) Q2 2020 Earnings Conference Call July 29, 2020 9:30 AM ET Company Participants Matt Rohrmann – Investor Relations Albert Benchimol – President and Chief Executive Officer Pete Vogt – Chief Financial Officer Conference Call Participants Brian Meredith – UBS Meyer Shields – KBW Elyse Greenspan – Wells Fargo Josh Shanker – Bank of America Douglas Eden – Eden Operator Good day, and welcome to the Second Quarter 2020 Axis Capital Earnings Conference Call and Webcast. All ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or organiza ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or organiz ...

AXIS Capital Holdings Limited (NYSE:AXS) Q1 2020 Results Conference Call May 5, 2020 9:30 AM ET Company Participants Matt Rohrmann - IR Albert Benchimol - President and CEO Pete Vogt - CFO Conference Call Participants Brian Meredith - UBS Meyer Shields - KBW Yaron Kinar - Goldman Sachs Elyse Greenspan - Wells Fargo Ron Bobman - Capital Returns Doug Eden - ECM Gerald Fine - MCN Group Phil Stefano - Deutsche Bank Operator Good day, and welcome to the Q1 2020 AXIS Capital Earnings Conference Call. All particip ...

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AXIS Capital Holdings Limited (NYSE:AXS) Q4 2019 Earnings Conference Call January 30, 2020 9:30 AM ET Company Participants Matt Rohrmann - Head of Investor Relations Albert Benchimol - President & Chief Executive Officer Peter Vogt - Chief Financial Officer Conference Call Participants Amit Kumar - Buckingham Research Brian Meredith - UBS Meyer Shields - KBW Yaron Kinar - Goldman Sachs Josh Shanker - Deutsche Bank Elyse Greenspan - Wells Fargo Operator Good morning and welcome to the Fourth Quarter 2019 AXI ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or org ...

Financial Data and Key Metrics Changes - The company reported a net income of $28 million and an annualized ROE of 2.3% for the quarter [15] - On an ex-PGAAP basis, the operating loss was $28 million, resulting in an ex-PGAAP annualized operating ROE of negative 2.4% [15] - The consolidated ex-PGAAP combined ratio was 109.5%, an increase of over 9 points from the third quarter of 2018 [17] - The G&A expense ratio increased to 13.4%, up by 0.7 points compared to the third quarter of 2018 [18] Business Line Data and Key Metrics Changes Insurance Segment - The insurance segment reported a decrease in gross premiums written of $74 million, primarily due to reductions in property exposure [19] - The ex-PGAAP combined ratio for the insurance segment was 103.8%, which was 3.1 points lower than the same period last year [20] - The current accident year loss ratio, ex cat and weather, decreased by 1.5 points compared to the third quarter of 2018 [21] Reinsurance Segment - The reinsurance segment reported an increase in gross premiums written of $57 million, mainly from catastrophe, A&H, and liability lines [22] - The reinsurance combined ratio was 109.9%, which was 20.4 points higher than the same period last year [23] - The current accident year loss ratio, ex cat and weather, was 64.8%, 2.2 points higher compared to the third quarter of 2018 [23] Market Data and Key Metrics Changes - The average rate increase on renewed business across the insurance portfolio was 8% in the third quarter, up from 7% in the second quarter [26] - In the U.S. division, average rate increases were close to 11% for the quarter, with Excess Casualty rates up 17% [27] - The average rate increase in the London-based international insurance division was nearly 10% for the quarter [29] Company Strategy and Development Direction - The company is focused on improving profitability and volatility in its insurance portfolio by reducing premium writings in less attractive business lines [10] - There is a strategic shift towards more SME exposure, which tends to exhibit less volatility [11] - The company aims to achieve annual run rate net savings of $100 million compared to its 2017 run rate by the end of next year [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging quarter due to large catastrophes and higher midsize losses but expressed confidence in the company's strategy and market positioning [7][14] - The company expects ongoing improvements in pricing, terms, and conditions in the market, with rate increases likely to continue into 2020 [30] - Management is optimistic about growth in attractive lines, having grown more than 13% year-to-date in those areas [30] Other Important Information - The company experienced pretax cat and weather-related losses of $160 million, primarily driven by Hurricane Dorian and Japanese typhoons [15] - The diluted book value per share increased by 0.5% in the quarter to $56.26, driven by net income and net unrealized gains [25] Q&A Session Summary Question: Impact of midsize losses on results - Management explained that midsize losses are part of normal volatility, with half of the large loss experience attributed to credit lines, which historically perform well [36][37] Question: Confidence in liability side amidst loss cost inflation - Management expressed confidence in the Excess Casualty and casualty lines, highlighting significant changes made to reduce exposure and increase pricing [41][42] Question: Future expectations for loss ratios - Management is confident that loss ratios will improve, attributing any potential lack of improvement to higher-than-expected industry loss trends [54] Question: Performance of recent acquisitions - Management indicated that the Novae acquisition has positioned the company well in the London market, while the Aviabel acquisition is aimed at shifting focus to general aviation [56][58]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or organiza ...