AXIS CAPITAL HOLDINGS LIMITED (NYSE:AXS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On March28, 2018, AXIS Specialty Limited, AXIS Re SE, AXIS Specialty Europe SE, AXIS Insurance Company, AXIS Surplus Insurance Company and AXIS Reinsurance Company (the “Companies”) amended their existing $250million secured letter of credit facility under their aggregate $750million secured letter of credit facility with Citibank Europe plc (the $250 Million Facility) to extend the expiration date to March31, 2019 for letters of credit with a tenor not to extend beyond March31, 2020. The terms and conditions of the additional $500million secured letter of credit facility under the aggregate $750million secured letter of credit facility with Citibank Europe plc remain unchanged. The Companies are subsidiaries of AXIS Capital Holdings Limited, a Bermuda company.
The description of the $250 Million Facility contained herein is qualified in its entirety by reference to the Amendment to the Committed Facility Letter which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant |
The disclosure required by this item is included in “Item 1.01. Entry into a Material Definitive Agreement,” which is incorporated by reference.
| Item 1.01 | Financial Statements and Exhibits |
(d) Exhibits
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Exhibit Number |
Description of Document |
| 10.1 | Amendment dated March28, 2018 to Committed Facility Letter dated March27, 2017, 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. |
EXHIBIT INDEX
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Exhibit Number |
Description of Document |
| 10.1 | Amendment dated March28, 2018 to Committed Facility Letter dated March27, 2017, 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. |
AXIS CAPITAL HOLDINGS LTD ExhibitEX-10.1 2 d545996dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 [Citibank Europe plc Letterhead] FROM: Citibank Europe plc (the Bank) TO: AXIS Specialty Limited (ASL); AXIS Re SE (formerly,…To view the full exhibit click here
About AXIS CAPITAL HOLDINGS LIMITED (NYSE:AXS)
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re. Its insurance segment operates through offices in Bermuda, the United States, Canada, Europe, Australia and Singapore and offers specialty insurance products to various markets. Its insurance segment’s offerings include property, marine, terrorism, aviation, professional lines, liability and accident and health. Its reinsurance segment operates through offices in Bermuda, the United States, Switzerland, Singapore, Brazil, and Canada. The reinsurance segment provides non-life reinsurance to insurance companies. Its reinsurance segment’s offering include catastrophe; property; professional lines; credit and surety; motor; liability; engineering, and agriculture.