Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 38

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 38
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| Compensation Discussion and Analysis |

#### Key Incentive Plan Metrics
The financial metrics for our incentive plans are OROACE, rTSR, and Adjusted DBVPS. The chart below describes the metrics used in our incentive programs and why we believe these metrics are important to the Company and our current strategy.

|                |     | Used In:                |     |                            |     |                                                                                                                                                             |
| Metric         |     | Annual Incentive Awards |     | Long-Term Incentive Awards |     | Why Metric is Important to AXIS and Our Strategy                                                                                                            |
| OROACE         |     | r                       |     |                            |     | •This metric reflects the rate of return the Company earns on its capital and surplus.                                                                      
 •Our goal is to achieve strong OROACE results to deliver value for shareholders.                                                                            
 •Generally, the higher the return, the better the Company is using funds invested by its shareholders, assuming risk is measured and managed appropriately. |
| rTSR           |     |                         |     | r                          |     | •This metric measures the overall performance of the Company's stock, encompassing both price appreciation and dividends over a specific period.            
 •TSR explicitly links long-term incentive compensation to shareholder value.                                                                                
 •rTSR measures shareholder value creation compared to a group of similarly-situated companies.                                                              
 •Successful execution against long-term financial and strategic plans should drive an increase in TSR over the long-term.                                   |
| Adjusted DBVPS |     |                         |     | r                          |     | •This metric incentivizes and helps measure superior value creation over time.                                                                              
 •Higher and more consistent book value per share growth is an indication of effective and prudent use of capital that is shown to deliver value over time.  |

| AXIS 2025 Proxy Statement |     | 49 |

| Compensation Discussion and Analysis |

#### Elements of Executive Compensation
The following table lists the elements of compensation for our executive compensation program. The program uses a mix of fixed and variable compensation elements and provides alignment with both short- and long-term business goals through annual and long-term incentives. Our incentives are designed to drive overall Company, business unit, and individual performance using financial and non-financial measures the Committee believes are correlated to gains in shareholder value. At the beginning of the performance year, the Committee establishes the measures and ranges of performance for the variable compensation elements. Our program is designed such that each executive receives an Annual Incentive Plan ("