AXIS CAPITAL HOLDINGS LTD DEF 14A Filing

Ticker: AXS-PE · Form: DEF 14A · Filed: Apr 4, 2024 · CIK: 1214816

Axis Capital Holdings Ltd DEF 14A Filing Summary
FieldDetail
CompanyAxis Capital Holdings Ltd (AXS-PE)
Form TypeDEF 14A
Filed DateApr 4, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$153 million, $100 million, $425 million, $346 m, $486 m
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, AXIS CAPITAL HOLDINGS LTD, Executive Compensation, Corporate Governance, Insurance

TL;DR

<b>AXIS CAPITAL HOLDINGS LTD files DEF 14A for the 2023 fiscal year.</b>

AI Summary

AXIS CAPITAL HOLDINGS LTD (AXS-PE) filed a Proxy Statement (DEF 14A) with the SEC on April 4, 2024. Filing type is DEF 14A for AXIS CAPITAL HOLDINGS LTD. The report covers the fiscal year ending December 31, 2023. Filed as of April 4, 2024. The company's SIC code is 6331 (FIRE, MARINE & CASUALTY INSURANCE). Business and mailing address are both 92 PITTS BAY ROAD, PEMBROKE, HM 08.

Why It Matters

For investors and stakeholders tracking AXIS CAPITAL HOLDINGS LTD, this filing contains several important signals. This DEF 14A filing provides detailed information on executive compensation, board of directors, and other corporate governance matters for AXIS CAPITAL HOLDINGS LTD. Investors and stakeholders can use this filing to assess executive pay structures, potential conflicts of interest, and the company's overall governance practices.

Risk Assessment

Risk Level: low — AXIS CAPITAL HOLDINGS LTD shows low risk based on this filing. The filing is a standard DEF 14A, which is routine for publicly traded companies and does not indicate any unusual financial or operational distress.

Analyst Insight

Review the executive compensation details and board member information to understand governance and potential alignment with shareholder interests.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed Period of Report)
  • 2024-04-04 — Filing Date (Filed as of Date)
  • 6331 — SIC Code (Standard Industrial Classification)

Key Players & Entities

  • AXIS CAPITAL HOLDINGS LTD (company) — Filer
  • Mr. Tizzio (person) — Member of the board/compensation committee
  • Mr. Benchimol (person) — Member of the board/compensation committee

FAQ

When did AXIS CAPITAL HOLDINGS LTD file this DEF 14A?

AXIS CAPITAL HOLDINGS LTD filed this Proxy Statement (DEF 14A) with the SEC on April 4, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by AXIS CAPITAL HOLDINGS LTD (AXS-PE).

Where can I read the original DEF 14A filing from AXIS CAPITAL HOLDINGS LTD?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AXIS CAPITAL HOLDINGS LTD.

What are the key takeaways from AXIS CAPITAL HOLDINGS LTD's DEF 14A?

AXIS CAPITAL HOLDINGS LTD filed this DEF 14A on April 4, 2024. Key takeaways: Filing type is DEF 14A for AXIS CAPITAL HOLDINGS LTD.. The report covers the fiscal year ending December 31, 2023.. Filed as of April 4, 2024..

Is AXIS CAPITAL HOLDINGS LTD a risky investment based on this filing?

Based on this DEF 14A, AXIS CAPITAL HOLDINGS LTD presents a relatively low-risk profile. The filing is a standard DEF 14A, which is routine for publicly traded companies and does not indicate any unusual financial or operational distress.

What should investors do after reading AXIS CAPITAL HOLDINGS LTD's DEF 14A?

Review the executive compensation details and board member information to understand governance and potential alignment with shareholder interests. The overall sentiment from this filing is neutral.

How does AXIS CAPITAL HOLDINGS LTD compare to its industry peers?

AXIS CAPITAL HOLDINGS LTD operates in the FIRE, MARINE & CASUALTY INSURANCE industry.

Are there regulatory concerns for AXIS CAPITAL HOLDINGS LTD?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information on executive compensation and corporate governance.

Industry Context

AXIS CAPITAL HOLDINGS LTD operates in the FIRE, MARINE & CASUALTY INSURANCE industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information on executive compensation and corporate governance.

What Investors Should Do

  1. Analyze executive compensation packages for key personnel like Mr. Tizzio and Mr. Benchimol.
  2. Review board member disclosures and any related party transactions.
  3. Examine the company's proxy statement for voting recommendations on corporate matters.

Key Dates

  • 2024-04-04: Filing Date — Official submission of the DEF 14A document.
  • 2023-12-31: Fiscal Year End — Period covered by the financial and governance information in the filing.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine annual disclosure for executive and board information, not a comparison to a prior period's specific financial performance.

Filing Stats: 4,496 words · 18 min read · ~15 pages · Grade level 15 · Accepted 2024-04-04 08:29:15

Key Financial Figures

  • $153 million — capital position enabled AXIS to return $153 million to shareholders during the past year vi
  • $100 million — in December 2023 the Board authorized a $100 million share buyback, signifying our confidenc
  • $425 million — included a net reserve strengthening of $425 million pre-tax in the fourth quarter, predomin
  • $346 m — rs, in 2023, we generated net income of $346 million, operating income of $486 million
  • $486 m — me of $346 million, operating income of $486 million, return on average common equity
  • $8.4 billion — the highest in our company's history at $8.4 billion — and our net investment income was als
  • $612 million — net investment income was also a record $612 million. Further, we delivered a current accid
  • $6.1 billion — ing 2023 with gross premiums written of $6.1 billion. We grew across nearly all lines, with
  • $2.2 billion — basis, our Reinsurance segment is now a $2.2 billion portfolio, comprised predominantly of a
  • $54.06 — value grew 15.1% to finish the year at $54.06 per share. We made underwriting income

Filing Documents

Executive Compensation Philosophy and Key Features

Executive Compensation Philosophy and Key Features 52 Key Incentive Plan Metrics 53 Elements of Executive Compensation 53 Base Salary 55 Annual Incentive Awards 55 Long-Term Incentive Awards 60 Human Capital and Compensation Committee Process 64 Risk Management and Compensation 65 Human Capital and Compensation Committee Consultant 66 ii AXIS 2024 Proxy Statement Table of Contents Peer Benchmarking 66 Other Compensation Topics 68 Perquisites and Other Personal Benefits 68 Severance Benefits 68 Restriction on Trading by Directors and Officers/Anti-Hedging and Pledging 68 Clawback Policy 69 Stock Ownership Guidelines for Directors and Executive Officers 69 U.S. Tax Considerations 69 Human Capital and Compensation Committee Report 70

Executive Compensation

Executive Compensation 71 Summary Compensation Table 71 All Other Compensation for 20 23 – Supplemental Table 72 Grants of Plan-Based Awards in 202 3 73 Employment and Other Agreements with Named Executive Officers 74 Long-Term Equity Compensation 77 Annual Incentive Plan 77 Retirement Benefits 77 Additional Benefits 78 Outstanding Equity Awards at 202 3 Fiscal Year-End 78 Option Exercises and Stock Vested in 20 23 80 Pension Benefits for 20 23 80 Nonqualified Deferred Compensation for 20 23 80 Potential Payments Upon Termination or Change in Control 81 CEO Pay Ratio 91 Pay Versus Performance Table and Disclosures 92 202 3 Director Compensation 96 Non-Management Directors 96 Directors Annual Compensation Program 97 Equity Compensation Plan Information 98 Audit Committee Report 99 Proposal 3. Appointment of Independent Auditors 100 Principal Account ant Fees and Services 102 Audit and Non-Audit Fees 102 Pre-Approval Policy 102 Shareholder Proposals for 202 5 Annual Meeting 103 Voting and Meeting Information 104 Appendix 1 – Non-GAAP Financial Measures Reconciliation A-1 When used in this proxy statement, the terms "we," "us," "our," "the Company," "AXIS," and "AXIS Capital" refer to AXIS Capital Holdings Limited. Cautionary Note Regarding Forward-Looking Statements This proxy statement contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of historical facts included in this report, including statements regarding our estimates, beliefs, expectations, intentions, strategies or projections are forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the United States ("U.S.") federal secur

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