A total of $225 million of preferred shares are being redeemed by Bermudian-based Axis Capital Holdings Ltd next month.

The company will redeem and liquidate all nine million of its 5.5 per cent Series D preferred shares.

The redemption price is $25 per share. The company has also announced a dividend on each share of 17.5 cents, to be paid on January 17, the redemption date, to shareholders of record on January 2. This means the total redemption price payable on January 17 will be $25.17 per preferred share.