-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MzEGYNGwEo/Fy1UXd/cad7zp9/bn2igEZVT/dfyrc0+PwtIZ5MQWZHCiSjTbclIN
 7wBagWt+QAQRkVGjRJnBjg==

<SEC-DOCUMENT>0000019617-03-000373.txt : 20030703
<SEC-HEADER>0000019617-03-000373.hdr.sgml : 20030703
<ACCEPTANCE-DATETIME>20030703142040
ACCESSION NUMBER:		0000019617-03-000373
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030701
FILED AS OF DATE:		20030703

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXIS CAPITAL HOLDINGS L
		CENTRAL INDEX KEY:			0001214816
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]

	BUSINESS ADDRESS:	
		STREET 1:		106 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		4412962600

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			J P MORGAN CHASE & CO
		CENTRAL INDEX KEY:			0000019617
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31721
		FILM NUMBER:		03774991

	BUSINESS ADDRESS:	
		STREET 1:		270 PARK AVE
		STREET 2:		39TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2122706000

	MAIL ADDRESS:	
		STREET 1:		270 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHASE MANHATTAN CORP /DE/
		DATE OF NAME CHANGE:	19960402

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHEMICAL BANKING CORP
		DATE OF NAME CHANGE:	19920703

	FORMER NAME:	
		FORMER CONFORMED NAME:	CHEMICAL NEW YORK CORP
		DATE OF NAME CHANGE:	19880508
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>jpm11.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-07-01</periodOfReport>
	<notSubjectToSection16>1</notSubjectToSection16>
    <issuer>
        <issuerCik>0001214816</issuerCik>
        <issuerName>AXIS CAPITAL HOLDINGS L</issuerName>
        <issuerTradingSymbol>AXS</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
		<reportingOwnerId>
            <rptOwnerCik>0000019617</rptOwnerCik>
            <rptOwnerName>J P MORGAN CHASE &amp; CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>0</isDirector>
			<isOfficer>0</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>1</isOther>
			<otherText>Former 10% Owner</otherText>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeSecurity>
		<securityTitle>
			<value>Common Stock</value>
		</securityTitle>
		<transactionDate>
			<value>2003-07-01</value>
		</transactionDate>
		<transactionCoding>
			<transactionFormType>4</transactionFormType>
			<transactionCode>S</transactionCode>
			<equitySwapInvolved>0</equitySwapInvolved>
		</transactionCoding>
		<transactionAmounts>
			<transactionShares>
				<value>1190840</value>
			</transactionShares>
			<transactionValue>
				<value>20.6800</value>
			</transactionValue>
			<transactionAcquiredDisposedCode>
				<value>D</value>
			</transactionAcquiredDisposedCode>
		</transactionAmounts>
		<postTransactionAmounts>
			<sharesOwnedFollowingTransaction>
				<value>14815536.0000</value>
			</sharesOwnedFollowingTransaction>
		</postTransactionAmounts>
		<ownershipNature>
			<directOrIndirectOwnership>
				<value>I</value>
			</directOrIndirectOwnership>
			<natureOfOwnership>
				<value>See footnote</value>
				<footnoteId id="F1"/>
			</natureOfOwnership>
		</ownershipNature>
	</nonDerivativeSecurity>
	<footnotes>
		<footnote id="F1">The Reporting Person beneficially owns equity securities of the Issuer indirectly through wholly owned entities, either directly or indirectly.  The Reporting Person disclaims beneficial ownership in the securities to the extent it exceeds its pecuniary interest therein. These entities sold common shares of the Issuer.  The following sets forth the applicable selling entity and the aggregate amount of common shares sold by such entity:  J.P. Morgan Partners (BHCA), L.P. - 633,360 shares; J.P. Morgan Partners Global Investors, L.P. - 3,039 shares; J.P. Morgan Partners Global Investors A, L.P. - 10,129 shares; J.P. Morgan Partners Global Investors (Cayman), L.P. - 50,919 shares; J.P. Morgan Partners Global Investors (Cayman) II, L.P. - 5,674 shares; J.P. Morgan Partners Global Investors (Cayman) III, L.P. - 57,889 shares; J.P. Morgan Partners Global Investors (Cayman) IV, L.P. - 42,962 shares; J.P. Morgan Partners Capital, L.P. - 88,979 shares; and  J.P. Morgan Partners Corsair II Offshore 
Capital Partners, L.P. - 297,889 shares.
</footnote>
	</footnotes>
	<ownerSignature>
		<signatureName>By: /s/ Anthony J. Horan, Corporate Secretary</signatureName>
		<signatureDate>2003-07-03</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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