The board of directors of Axis Capital Holdings Ltd has approved a new share repurchase programme, authorising the company to purchase up to an aggregate $400 million of its common shares.

The company said this new share repurchase programme replaces the previous $300 million programme, which had been exhausted.

Axis said its board has declared a quarterly dividend of $0.44 per common share payable on April 17 to shareholders of record at the close of business on March 31.

In addition, the board declared a dividend of $34.375 per Series E 5.50 per cent preferred share (equivalent to $0.34375 per depositary share), also payable on April 17 to shareholders of record at the close of business on March 31.

Axis Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions.

The company has shareholders’ equity of $6.1 billion at December 31, 2024. It is located in Bermuda, the United States, Europe, Singapore and Canada.