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Matt Rohrmann ( Investor Contact ) : Anna Kukowski ( Media Contact ) : ( 212 ) 940-3339 ; ( 212 ) 715-3574 ; AXIS investorrelations@axiscapital.com anna.kukowski@axiscapital.com AXIS CAPITAL REPORTS THIRD QUARTER NET INCOME AVAILABLE TO COMMON SHAREHOLDERS OF $ 47 MILLION , or $ 0.56 PER DILUTED COMMON SHARE For the third quarter of 2021 , the Company reports : • . • Improvement of 4.8 points in current accident year combined ratio , excluding catastrophe and weather - related losses to 87.6 % , compared to the prior year Operating income of $ 1 million , or $ 0.01 per diluted common share Pre - tax catastrophe and weather - related losses , net of reinsurance and reinstatement premiums , of $ 250 million , or 20.7 points Annualized return on average common equity ( " ROACE " ) of 3.9 % Book value per diluted common share of $ 54.86 , a decrease of $ 0.64 , or 1.2 % , compared to June 30 , 2021 Pembroke , Bermuda , October 27 , 2021 - AXIS Capital Holdings Limited ( " AXIS Capital " or " the Company " ) ( NYSE : AXS ) today announced financial results for the third quarter ended September 30 , 2021 . Commenting on the third quarter 2021 financial results , Albert Benchimol , President and CEO of AXIS Capital , said : " Once again our industry was challenged by severe weather events and our focus continues to be on supporting our clients and the communities that have been impacted . " In the face of these challenges , we continued to deliver , accelerating momentum in our progress highlighted by eight consecutive quarters of year - over - year improvement in our combined ratio ex - cat and weather . Notably , AXIS generated net operating income for the quarter , and our lower market share of the events demonstrates the progress that we've made in reducing our net exposure to catastrophes . Our results were underscored by strong top line growth , disciplined underwriting , and solid investment income . " AXIS is well positioned in key specialty markets and we're increasingly confident that favorable conditions will continue through 2022 and likely beyond , providing us with an attractive path to further profitable growth . " AXIS Capital Holdings Limited 92 Pitts Bay Road Pembroke , Bermuda HM08 Tel . 441.496.2600 Fax 441.405.2600 www.axiscapital.com -1-