Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 41

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 41
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 and CEO in May 2023, Mr. Tizzio's target was increased to 160%. His actual 2023 bonus was prorated to account for his pre-appointment target of 150%.

| AXIS 2025 Proxy Statement |     | 51 |

| Compensation Discussion and Analysis |

For 2024, annual incentive compensation was determined based on the weightings of Company financial metric, business unit financial metric and individual non-financial metrics as follows:

|                |     | Financial Metrics |    |                                             |     |    |                                          |     | Strategic Business Goals 
 (Non-Financial Metrics)  |    |                                  |
| Executive      |     |                   |    | Company Financial Metric (OROACE) Weighting |     |    | Business Unit Financial Metric Weighting |     |                          |    | Individual Non-Financial Metrics |
| Vincent Tizzio |     |                   | 75 | %                                           |     |  — | %                                        |     |                          | 25 | %                                |
| Peter Vogt     |     |                   | 70 | %                                           |     |  — | %                                        |     |                          | 30 | %                                |
| David Phillips |     |                   | 55 | %                                           |     | 30 | %                                        |     |                          | 15 | %                                |
| Conrad Brooks  |     |                   | 70 | %                                           |     |  — | %                                        |     |                          | 30 | %                                |
| Daniel Draper  |     |                   | 70 | %                                           |     |  — | %                                        |     |                          | 30 | %                                |

#### Company Financial Performance Goals and Results
At the beginning of each year, the Committee sets a financial performance target after considering the Company’s business plan, peer performance and market conditions for the current year. The Committee also receives input from its independent compensation consultant as to the balance between the rigor and achievability of our goals. In setting the target OROACE goal for 2024, which was less than 2023 Adjusted OROACE, (1) the Committee considered several factors. Catastrophe and weather-related losses in 2023 were significantly lower than our long-term average catastrophe and weather-related losses. In addition, our effective income tax rate in 2023 was substantially lower than the 2024 plan effective income tax rate. This was primarily due to the generation of pre-tax income in our jurisdictions with lower effective