SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* MARSH & MCLENNAN COMPANIES INC (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/30/2003	3. Issuer Name and Ticker or Trading Symbol AXIS CAPITAL HOLDINGS LTD [ AXS ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year) 06/27/2003
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	11,792	I	See note(1)
Common Shares	96,328	I	See note(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* MARSH & MCLENNAN COMPANIES INC (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)

1. Name and Address of Reporting Person* MMC CAPITAL INC (Last) (First) (Middle) 20 HORSENECK LANE (Street) GREENWICH CT 06830 (City) (State) (Zip)

1. Name and Address of Reporting Person* MARSH & MCLENNAN GP I INC (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)

1. Name and Address of Reporting Person* MARSH & MCLENNAN CAPITAL PROFESSIONALS FUND LP (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)

1. Name and Address of Reporting Person* MARSH & MCLENNAN EMPLOYEES SECURITIES CO LP (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)

1. Name and Address of Reporting Person* MARSH & MCLENNAN RISK CAPITAL HOLDINGS LTD (Last) (First) (Middle) 1166 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10036 (City) (State) (Zip)

Explanation of Responses:

1. These shares are owned of record by MMC Capital, Inc.

2. These shares are owned of record by Putnam Investments Holdings, LLC.

Remarks:

This Form 3/A amends the Form 3 filed by Marsh & McLennan Companies, Inc. ("MMC") on its behalf and on behalf of Marsh & McLennan Risk Capital Holdings, Ltd, Marsh & McLennan GP I, Inc., Marsh & McLennan Capital Professionals Fund, L.P. and Marsh & 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.

	Marsh & McLennan Companies, Inc., By: /s/ Mark J. Dallara	02/17/2004
	MMC Capital, Inc., By: /s/ David J. Wermuth, Principal and Legal Director	02/17/2004
	Marsh & McLennan GP I, Inc., By: /s/ David J. Wermuth, Assistant Secretary	02/17/2004
	Marsh & McLennan Capital Professionals Fund, L.P., By: Marsh & McLennan GP I, Inc., its sole general partner, By: /s/ David J. Wermuth, Assistant Secretary	02/17/2004
	Marsh & McLennan Employees' Securities Company, L.P., by Marsh & McLennan GPI, Inc., its sole general partner, By: /s/ David J. Wermuth, Assistant Secretary	02/17/2004
	Marsh & McLennan Risk Capital Holdings, Ltd., By: /s/ Mark J. Dallara, Secretary	02/17/2004
	** Signature of Reporting Person	Date
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