Addendum to Employment Agreement effective March 6, 2015 by and between Jan Ekberg and AXIS Re SE (Swiss Branch) effective February 23, 2017

Brandschenkestrasse 90, 8002 Zurich

(hereinafter the "Employer”)

Jan Ekberg

[Address]

(hereinafter the "Employee")

(collectively the "Parties")

The Parties hereby conclude an Addendum to the Employment Contract, subject to the following terms and conditions and to the Swiss Code of Obligations:

As compensation for his services, the Employee will be provided with the following:

The Employee's annual base salary will remain unchanged.

A year-end bonus will be paid at the full discretion of the Employer. The bonus target is USD 1'000'000, based on company performance and individual performance. In order to be eligible for the bonus, the Employee must be on payroll on the day bonuses are paid. The bonus payment constitutes a special payment as defined in Art. 322d CO. The Employee does not have a right to receive any such additional payment and any payment made cannot be taken as a precedent for future or further payments.

Your annual equity target for the 2017 performance year will be valued at USD 1'000'000. Our long-term equity plan is discretionary and awards are based on company and individual performance.

The Employee is employed as Chief Executive Officer, AXIS Re of AXIS and will report directly to the Chief Executive Officer of the Parent, or any other individual as is mutually agreeable to you and the Employer.

All other terms and conditions of the Employment Contract will remain in force and unchanged.