AXIS Authorizes $350 Million Share Repurchase Plan

Bermuda’s AXIS Capital Holdings Limited announced that its Board of Directors has approved the repurchase of up to $350 million of its common shares.

“The repurchases are expected to be effected from time to time in open market or privately negotiated transactions, depending on market conditions,” said the bulletin. The plan is currently authorized to continue until December 2006.

The Board also declared a quarterly dividend of $0.125 per common share. The dividend is payable on January 12, 2005 to shareholders of record at the close of business on December 31, 2004.