AXIS Capital Holdings Enters Material Agreement

Ticker: AXS-PE · Form: 8-K · Filed: Mar 28, 2024 · CIK: 1214816

Axis Capital Holdings Ltd 8-K Filing Summary
FieldDetail
CompanyAxis Capital Holdings Ltd (AXS-PE)
Form Type8-K
Filed DateMar 28, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$0.0125, $500 million, $300 million
Sentimentneutral

Sentiment: neutral

Topics: material-agreement, financial-obligation

TL;DR

AXIS Capital Holdings signed a big deal on 3/26/24.

AI Summary

On March 26, 2024, AXIS Capital Holdings Limited entered into a material definitive agreement. The company also created a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding the agreement and financial obligations are not provided in this excerpt.

Why It Matters

This filing indicates a significant new agreement or financial commitment by AXIS Capital Holdings, which could impact its future financial performance and operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and financial obligation, the specifics of which are not yet disclosed, creating uncertainty.

Key Players & Entities

  • AXIS Capital Holdings Limited (company) — Registrant
  • March 26, 2024 (date) — Date of earliest event reported

FAQ

What is the nature of the material definitive agreement entered into by AXIS Capital Holdings Limited?

The provided excerpt does not specify the details of the material definitive agreement.

What is the direct financial obligation or off-balance sheet arrangement created by AXIS Capital Holdings Limited?

The excerpt states that such an obligation was created but does not provide specific details.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on March 26, 2024.

What is the principal executive office address for AXIS Capital Holdings Limited?

The principal executive office is located at 92 Pitts Bay Road, Pembroke, Bermuda HM 08.

What is the telephone number for AXIS Capital Holdings Limited?

The telephone number is (441) 496-2600.

Filing Stats: 737 words · 3 min read · ~2 pages · Grade level 12.8 · Accepted 2024-03-28 17:11:37

Key Financial Figures

  • $0.0125 — ch registered Common shares, par value $0.0125 per share AXS New York Stock Exchange
  • $500 million — Bermuda company, amended their existing $500 million secured letter of credit facility with
  • $300 million — apacity available under the facility to $300 million; (ii) enter into an uncommitted secured

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On March 26, 2024, AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Surplus Insurance Company and AXIS Reinsurance Company (the "Companies"), each a subsidiary of AXIS Capital Holdings Limited, a Bermuda company, amended their existing $500 million secured letter of credit facility with Citibank Europe plc to: (i) reduce the committed utilization capacity available under the facility to $300 million; (ii) enter into an uncommitted secured letter of credit facility with Citibank Europe plc; (iii) extend the tenors of issuable letters of credit to March 31, 2026; and (iv) make certain updates to the facility's collateral and fee arrangements. The description of the amendments to the letter of credit facility and related documents described herein is qualified in its entirety by reference to Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, which are incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant The information set forth in Item 1.01 above is hereby incorporated by reference under this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description of Document 10.1 Amendment and Restatement Agreement dated March 26, 2024, by and among AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Reinsurance Company, AXIS Surplus Insurance Company and Citibank Europe plc. 10.2 Amendment to Master Agreement dated March 26, 2024, by and among AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Reinsurance Company, AXIS Surplus Insurance Company and Citibank Europe plc. 10.3 Amended and Restated Committed Letter of Credit Facility Letter dated March 26, 2024, by and among AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Reinsurance Company, AXIS Surplus Insurance Company and Citibank Europe plc. 10.4 Uncommitted Facility Letter for Issuance of Credits dated March 26, 2024, by and among AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Reinsurance Company, AXIS Surplus Insurance Company and Citibank Europe plc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 28, 2024 AXIS CAPITAL HOLDINGS LIMITED By: /s/ Conrad D. Brooks Conrad D. Brooks Chief Administrative and Legal Officer

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