Welcome to our dedicated page for Axis Cap Hldgs news (Ticker: AXS), a resource for investors and traders seeking the latest updates and insights on Axis Cap Hldgs stock.
AXIS Capital Holdings Limited reports recurring developments tied to its global specialty insurance and reinsurance business. Through operating subsidiaries, the company underwrites specialty risk across markets that include Bermuda, the United States, Europe, Singapore and Canada, with financial updates organized around its Insurance segment and AXIS Re reinsurance operations.
Company news commonly covers quarterly and annual results, gross and net premiums written, combined ratios, underwriting income, operating return on equity and book value per share. Updates also include common-share and Series E preferred-share dividends, share repurchase authorizations, investor presentations, governance matters and commentary on specialty underwriting strategy, product portfolio expansion and distribution capabilities.
AXIS Re has appointed David Bangs as the new Head of Japan, aiming to enhance its reinsurance services in the evolving Japanese market. Previously, Bangs held significant roles in Willis Re as Executive Director and Japan Representative. His experience is expected to strengthen AXIS Re's presence and expertise in the region. This strategic hiring aligns with AXIS Capital's commitment to provide exceptional service to clients across its global operations.
AXIS Insurance, part of AXIS Capital (NYSE:AXS), has appointed three lead underwriters in its U.S. Cyber and Technology team to enhance strategic growth. Ashley Sales, Jonah Papesh, and Eric Allen bring extensive experience from AIG, AXA XL, and Chubb, respectively. Their roles focus on underwriting profitability and managing client needs in a complex cyber landscape. AXIS also added three Senior Underwriters based in Chicago and Los Angeles, reinforcing its commitment to delivering exceptional service and understanding client requirements.
AXIS Insurance, a division of AXIS Capital (NYSE:AXS), has strengthened its U.S. Renewable Energy team by hiring three new underwriters: Kristopher Williams, Melissa Marsh, and Kevin Motta. Effective immediately, they will focus on underwriting renewable energy risks across wind, solar, and battery storage projects. The team is led by Sam Walsh, who emphasizes the significant growth in the U.S. renewable energy market. The new hires will enhance the company's expertise and service to brokers in this expanding sector.
AXIS Capital Holdings Limited (NYSE: AXS) reported a net loss of $73 million in Q3 2020, a significant drop from a net income of $28 million in Q3 2019. The company experienced a decrease in gross premiums written by 5% to $1.3 billion, primarily due to a 23% decrease in the reinsurance segment. However, the insurance segment saw a 5% increase. Despite challenges from natural disasters, the company reported a 16% rate increase in its Insurance segment and improved underlying performance, demonstrated by a 5.2 point reduction in the current accident year combined ratio, excluding catastrophe losses.
AXIS Re, part of AXIS Capital, has announced the addition of Lydia LaSalata and Matthew Trinkle to its North American Casualty team. LaSalata joins as a Senior Underwriter for Professional Liability, bringing extensive experience from Safety National Re, while Trinkle, formerly with Transatlantic Re, takes on the role of Underwriter for Casualty & Alternative Risk. This strategic hiring aims to enhance AXIS Re's adaptability in the evolving casualty market and strengthen relationships with partners, according to Dan Osterrieder, Head of Casualty North America.
AXIS Capital Holdings Limited (AXS) estimates a preliminary net loss of $225 million to $255 million for Q3 due to major catastrophes including Hurricanes Laura and Sally, the Midwest derecho, and wildfires. The company reaffirmed its earlier COVID-19 related loss estimates. Despite this, AXIS reported improvements in pricing and loss ratios in its insurance and reinsurance segments. The results will be discussed in a conference call on October 29, 2020.
AXIS Capital Holdings Limited (NYSE: AXS) announced that it will release its financial results for Q2 ending September 30, 2020, on October 28, 2020, after market close. The company's leadership will hold a teleconference on October 29, 2020, at 9:30 a.m. EDT, to discuss the results, which will include a Q&A session. Shareholders can access the teleconference by phone or via a live webcast. As of June 30, 2020, AXIS Capital reported shareholders' equity of $5.3 billion and holds strong ratings from Standard & Poor's and A.M. Best.