-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 IldcnpFGrP1na6bnN0tzK4gUTJMM7wtugBXGCJjbvhNK236Jo6hBzQfsRl6s8Jwa
 5jl3zeOYJADlzMaKAUH1Kg==

<SEC-DOCUMENT>0001209191-04-009963.txt : 20040213
<SEC-HEADER>0001209191-04-009963.hdr.sgml : 20040213
<ACCEPTANCE-DATETIME>20040213181625
ACCESSION NUMBER:		0001209191-04-009963
CONFORMED SUBMISSION TYPE:	3/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030630
FILED AS OF DATE:		20040213

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXIS CAPITAL HOLDINGS LTD
		CENTRAL INDEX KEY:			0001214816
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		106 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		4412962600

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN RISK CAPITAL HOLDINGS LTD
		CENTRAL INDEX KEY:			0001026605
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601323

	BUSINESS ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036-2774
		BUSINESS PHONE:		2123455000

	MAIL ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN EMPLOYEES SECURITIES CO LP
		CENTRAL INDEX KEY:			0001096727

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601324

	BUSINESS ADDRESS:	
		STREET 1:		MMC CAPITAL INC
		STREET 2:		20 HORSENECK LANE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		2038622900

	MAIL ADDRESS:	
		STREET 1:		1166 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN CAPITAL PROFESSIONALS FUND LP
		CENTRAL INDEX KEY:			0001098152

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601325

	BUSINESS ADDRESS:	
		STREET 1:		20 HORSENECK LN
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN GP I INC
		CENTRAL INDEX KEY:			0001249874
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601326

	BUSINESS ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			100362774
		BUSINESS PHONE:		2123455000

	MAIL ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			100362774

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MMC CAPITAL INC
		CENTRAL INDEX KEY:			0001280277
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601327

	MAIL ADDRESS:	
		STREET 1:		20 HORSENECK LANE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARSH & MCLENNAN COMPANIES INC
		CENTRAL INDEX KEY:			0000062709
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		04601328

	BUSINESS ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		2123455000

	MAIL ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER NAME:	
		FORMER CONFORMED NAME:	MARLENNAN CORP
		DATE OF NAME CHANGE:	19760505
</SEC-HEADER>
<DOCUMENT>
<TYPE>3/A
<SEQUENCE>1
<FILENAME>doc3a.xml
<DESCRIPTION>FORM 3/A SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2003-06-30</periodOfReport>

    <dateOfOriginalSubmission>2003-06-27</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001214816</issuerCik>
        <issuerName>AXIS CAPITAL HOLDINGS LTD</issuerName>
        <issuerTradingSymbol>AXS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000062709</rptOwnerCik>
            <rptOwnerName>MARSH &amp; MCLENNAN COMPANIES INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1166 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001280277</rptOwnerCik>
            <rptOwnerName>MMC CAPITAL INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>20 HORSENECK LANE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001249874</rptOwnerCik>
            <rptOwnerName>MARSH &amp; MCLENNAN GP I INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1166 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001098152</rptOwnerCik>
            <rptOwnerName>MARSH &amp; MCLENNAN CAPITAL PROFESSIONALS FUND LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1166 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001096727</rptOwnerCik>
            <rptOwnerName>MARSH &amp; MCLENNAN EMPLOYEES SECURITIES CO LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1166 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001026605</rptOwnerCik>
            <rptOwnerName>MARSH &amp; MCLENNAN RISK CAPITAL HOLDINGS LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1166 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11792.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See note</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>96328.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See note</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These shares are owned of record by MMC Capital, Inc.</footnote>
        <footnote id="F2">These shares are owned of record by Putnam Investments Holdings, LLC.</footnote>
    </footnotes>

    <remarks>This Form 3/A amends the Form 3 filed by Marsh &amp; McLennan Companies, Inc. (&quot;MMC&quot;) on its behalf and on behalf of Marsh &amp; McLennan Risk Capital Holdings, Ltd, Marsh &amp; McLennan GP I, Inc., Marsh &amp; McLennan Capital Professionals Fund, L.P. and Marsh &amp; McLennan Employees' Securities Company, L.P. on June 27, 2003, to add MMC Capital, Inc., an indirect wholly owned subsidiary of MMC, as a joint filer, to correct the number of shares owned of record by MMC Capital, Inc. from 13,016 to 11,792, and to add the shares held by Putnam Invesments Holdings, LLC, an indirect wholly owned subsidiary of MMC.</remarks>

    <ownerSignature>
        <signatureName>Marsh &amp; McLennan Companies, Inc., By:  /s/ Mark J. Dallara</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>MMC Capital, Inc., By: /s/ David J. Wermuth, Principal and Legal Director</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Marsh &amp; McLennan GP I, Inc.,  By:  /s/ David J. Wermuth, Assistant Secretary</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Marsh &amp; McLennan Capital Professionals Fund, L.P., By:  Marsh &amp; McLennan GP I, Inc., its sole general partner, By:  /s/ David J. Wermuth, Assistant Secretary</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Marsh &amp; McLennan Employees' Securities Company, L.P., by Marsh &amp; McLennan GPI, Inc., its sole general partner, By: /s/ David J. Wermuth, Assistant Secretary</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Marsh &amp; McLennan Risk Capital Holdings, Ltd.,  By:  /s/ Mark J. Dallara, Secretary</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----