Axis Capital Holdings Limited yesterday announced that its board of directors had approved a ten percent increase in the quarterly common dividend and has authorised renewal of the Company's share repurchase plan.

The quarterly common dividend will increase to $0.165 per share and will be payable on January 16, 2007 to the shareholders of record at the close of business on December 31, 2006.

The Board also declared a dividend of $0.453125 per Series A 7.25 percent Preferred Share and a dividend of $1.875 per Series B 7.5% Preferred Share. The Series A Preferred Share dividend is payable on January 16, 2007 to shareholders of record at the close of business on December 31, 2006 and the Series B Preferred Share dividend is payable on March 1, 2007 to shareholders of record at the close of business on February 15, 2007.

The Board also authorised a renewal of the Company's share repurchase plan with authorisation to repurchase up to $400 million of common shares. The plan is set to expire on December 31, 2008.

Axis also announced the appointment of former Bank of England Deputy Governor Sir Andrew Large to its board of directors.

Sir Andrew, recently retired as Deputy Governor for Financial Stability at the Bank of England and member of the Bank's Monetary Policy Committee. Prior to his appointment to the Bank of England in 2002, he was deputy chairman of the board of Barclays Bank Plc from 1998 when he also chaired the Group of 30 Project on Clearing and Settlement.