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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 Capital Holdings announced a quarterly dividend of $0.44 per common share and $34.375 per Series E 5.50% preferred share, both payable on July 18, 2024, to shareholders of record on June 28, 2024. The company also introduced a new share repurchase program authorizing up to $300 million in buybacks, adding to the existing $100 million repurchase program, with $36 million still available. This brings the total amount available for repurchases to $336 million. The repurchase timing and amount will depend on various market and economic factors.
AXIS Capital Holdings (NYSE: AXS) will host an Investor Day on May 30, 2024, featuring discussions on strategic priorities and outlook by President, CEO, and CFO. The event will have a live webcast, with in-person attendance by invitation only. An archived replay will be available post-event.
AXIS Capital reported first quarter net income available to common shareholders of $388 million, or $4.53 per diluted common share, and operating income of $220 million, or $2.57 per diluted common share. The company achieved an annualized return on average common equity of 32.1% and an annualized operating return on average common equity of 18.2%. AXIS Capital also reported a combined ratio of 91.1% and a book value per diluted common share of $57.13, indicating a 5.7% increase compared to December 31, 2023.
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