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 Capital Holdings Limited (NYSE: AXS) has appointed Gabriel Galanski as the new Head of North America Property & Casualty Programs. In this role, Mr. Galanski will oversee the management, development, and administration of the Company's North American Programs business. His responsibilities will include enhancing the Company's position in the delegated authority market, aligning with its distribution strategy, and leveraging partner relationships. Mr. Galanski has a strong background, previously serving as Vice President at Macquarie Insurance Facility, and holds a bachelor's degree from Villanova University. His leadership is expected to strengthen AXIS's market presence.
AXIS Capital Holdings Limited (NYSE: AXS) announced its commitment to a 50% reduction of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030, aligning with the Paris Agreement goals. This objective, based on a 2019 baseline, supports AXIS's transition towards a low-carbon economy. President and CEO Albert Benchimol highlighted recent investments in renewable energy and the aim to phase out thermal coal and oil sands by 2040. The company will implement measures such as optimizing its real estate portfolio to achieve these targets. AXIS's broader climate strategy includes various sustainability initiatives.
AXIS Capital Holdings Limited (NYSE: AXS) announced that CEO Albert Benchimol and Vincent Tizzio, CEO of Specialty Insurance and Reinsurance, will present at the Bank of America Financial Services Conference 2023. The event is scheduled for February 15, 2023, at 2:30 p.m. EST in New York. A live webcast will be available, with an archived replay for 90 days. As of December 31, 2022, AXIS Capital reported shareholders’ equity of $4.6 billion and has a robust presence in Bermuda, the U.S., Europe, Singapore, and Canada. The company's subsidiaries have received strong ratings from Standard & Poor’s and A.M. Best.
AXIS Capital Holdings announced its fourth quarter and full-year 2022 financial results, highlighting a net income of $193 million or $2.25 per diluted share. The annualized return on average common equity (ROACE) was 4.2% with an operating ROACE of 16.9%. Total gross premiums written rose by $529 million or 7% year-over-year to $8.2 billion. The combined ratio improved by 1.7 points to 95.8%, while pre-tax catastrophe losses decreased to $403 million. Book value per diluted share increased to $46.95, up 7.9% from the previous quarter, despite a 12.7% annual decline.
AXIS Capital announced that President and CEO Albert A. Benchimol will step down on May 4, 2023, after over a decade of leadership. He will be succeeded by Vincent C. Tizzio, who has served as CEO of Specialty Insurance and Reinsurance since June 2022. Benchimol will remain as a strategic advisor through the end of 2023. Under Benchimol, AXIS underwent a transformation, becoming recognized for its specialty underwriting and strong workplace culture. Both leaders expressed confidence in the company's future growth.
AXIS Capital Holdings Limited (NYSE: AXS) will release its fourth-quarter financial results for the period ending December 31, 2022, on January 25, 2023. An investor teleconference hosted by CEO Albert Benchimol and CFO Peter Vogt is scheduled for January 26, 2023, at 9:30 a.m. EST. It will cover the results and allow for a Q&A session. Shareholders should note that the company reported shareholders' equity of $4.3 billion as of September 30, 2022. The teleconference can be accessed via phone or webcast.
AXIS Capital Holdings Limited (NYSE: AXS) has appointed Andy Maher as the new Head of Cyber and Technology, based in London. Previously serving as Deputy Chief Underwriting Officer for Cyber and Technology, Maher joined AXIS in 2018. His focus will be on enhancing the team and expanding product offerings globally to better serve distribution partners and customers. With shareholders' equity reported at $4.3 billion as of September 30, 2022, AXIS is positioned to strengthen its leadership in the cyber insurance market.
AXIS Capital has authorized a $100 million repurchase of its common shares to be executed in the open market or through private negotiations until December 31, 2023. This buyback aims to enhance shareholder value based on market conditions. Additionally, the Board declared a quarterly dividend of $0.44 per common share and $34.375 per Series E preferred share, payable on January 18, 2023. The company reported $4.3 billion in shareholders' equity as of September 30, 2022.
AXIS Capital Holdings Limited (NYSE: AXS) has unveiled a new Specialty Package Policy for manufacturers (SPPm) that integrates general and environmental liability coverage into a single insurance package. The SPPm policy is designed for US-based manufacturing and distribution operations with revenues of up to $2B. The coverage includes various liabilities such as pollution and product withdrawal expenses. Additionally, AXIS appointed Tom Kashickey as Lead Underwriter for Environmental Liability, aiming to enhance their offerings in this sector.
AXIS Capital Holdings Limited (NYSE:AXS) has appointed Miranda Hunter as the new Head of Investor Relations, effective immediately. Reporting to CFO Peter Vogt, Ms. Hunter will enhance the company's communication with the investment community, focusing on their strategic evolution towards specialty insurance. With over 15 years of experience in the (re)insurance industry, she previously held senior roles at Aeolus Capital Management and Validus Holding. AXIS Capital maintains a strong financial position with shareholders' equity of $4.3 billion as of September 30, 2022.