AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

AXIS Capital Holdings Limited to Redeem All Outstanding 5.50% Series D Preferred Shares

December 17, 2019 GMT

PEMBROKE, Bermuda--(BUSINESS WIRE)--Dec 17, 2019--

AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE:AXS) today announced that it will redeem 9,000,000 of its 5.50% Series D Preferred Shares, par value $0.0125 per share and liquidation preference $25.00 per share (the “Preferred Shares”), constituting all of its outstanding Preferred Shares, representing $225,000,000 in aggregate liquidation preference of Preferred Shares, on January 17, 2020 (the “Redemption Date”) at a redemption price equal to $25.00 per Preferred Share, plus all declared and unpaid dividends, if any, to, but excluding, the Redemption Date, without accumulation of any undeclared dividends.

The Board also declared a dividend of $0.17569 per Series D 5.50% Preferred Share payable on January 17, 2020 to shareholders of record at the close of business on January 2, 2020. Accordingly, the total redemption price payable on January 17, 2020 will be $25.17569 per Preferred Share.

The Preferred Shares are currently traded on the New York Stock Exchange under the symbol AXSprD (CUSIP G0692U117).

Payment of the redemption price will be made upon presentation and surrender of Preferred Shares to be redeemed to Computershare Trust Company, N.A., Redemption Agent, by overnight delivery at 462 South Fourth Street, Suite 1600, Louisville, KY 40202 or by mail at P.O. Box 505004, Louisville, KY 40233-5004.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at September 30, 2019 of $5.6 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and the Middle East. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A+” (“Superior”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com. Follow AXIS Capital on LinkedIn and Twitter.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191217005795/en/

CONTACT: Matthew Rohrmann (Investors): (212) 940-3339;investorrelations@axiscapital.com

Anna Kukowski (Media): (212) 715-3574;Anna.Kukowski@axiscapital.com

KEYWORD: UNITED STATES UNITED KINGDOM CARIBBEAN BERMUDA NORTH AMERICA EUROPE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: AXIS Capital Holdings Limited

Copyright Business Wire 2019.

PUB: 12/17/2019 04:15 PM/DISC: 12/17/2019 04:15 PM

http://www.businesswire.com/news/home/20191217005795/en