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 (NYSE: AXS) is a Bermuda-incorporated global specialty underwriter and provider of insurance and reinsurance solutions. The AXS news page on Stock Titan aggregates company announcements, earnings releases, and other disclosures so readers can follow developments affecting this specialty insurance and reinsurance group.
Recent AXIS Capital news includes quarterly financial results detailing net income, operating income, combined ratios, underwriting income, and book value per diluted common share for both its AXIS Insurance and AXIS Reinsurance segments. The company also issues releases on the timing of its quarterly earnings calls, where management discusses performance, portfolio composition, catastrophe and weather-related losses, reserve development, and investment income.
Investors and analysts can use this news feed to track AXIS Capital’s capital management actions, such as share repurchase programs, stock repurchase agreements with institutional investors, and dividend declarations on common and preferred shares. The company additionally reports on strategic initiatives, including the launch of AXIS Capacity Solutions, a business unit focused on structured and multi-line portfolio capacity deals, and collaborations with partners in the specialty (re)insurance market.
Governance and leadership updates also feature in AXIS Capital’s news, including announcements about executive appointments and planned transitions in senior finance roles. Conference participation and investor presentation notices provide further insight into how AXIS communicates its specialty underwriting strategy, operational programs such as "How We Work," and its use of data, technology and AI. For readers following AXS, this page offers a centralized view of the company’s official communications and market-facing updates.
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.
AXIS Capital Holdings Limited (AXS) reported a net loss of $17 million for Q3 2022, translating to $(0.20) per diluted common share, compared to a net income of $47 million for the same period in 2021. The operating income stood at $3 million, up from $1 million a year earlier. Pre-tax catastrophe losses, mainly from Hurricane Ian, were $212 million. Despite challenges, AXIS grew underwriting income by 75% and operating income by 30% year to date. The book value per diluted share decreased to $43.50, down 8.7% from the previous quarter.
AXIS Capital Holdings Limited (NYSE: AXS) has announced it anticipates a small operating income for Q3 2022, significantly impacted by a pre-tax net loss of $212 million from catastrophes, including $160 million attributed to Hurricane Ian. The company's insurance segment estimates $100 million for Hurricane Ian, while its reinsurance segment estimates $60 million. Overall, industry losses from Hurricane Ian are projected at $60 billion, with AXIS's estimates aligning with these figures. A conference call is scheduled for October 27, 2022, to discuss results.
AXIS Capital Holdings Limited (NYSE: AXS) announced it will release its financial results for Q3 2022 on October 26, 2022, post-market. CEO Albert Benchimol and CFO Peter Vogt will host an investor teleconference on October 27, 2022, at 9:30 AM EDT to discuss these results. The company has a reported shareholders' equity of $4.7 billion as of June 30, 2022, and operates globally with strong financial ratings from Standard & Poor's and A.M. Best.
AXIS Capital has declared a quarterly dividend of $0.43 per common share, payable on October 18, 2022, to shareholders of record by October 3, 2022. Additionally, a dividend of $34.375 per Series E 5.50% preferred share will also be payable on the same date. As of June 30, 2022, AXIS Capital reported shareholders' equity of $4.7 billion. The company maintains strong financial ratings with an 'A+' from Standard & Poor's and an 'A' from A.M. Best.
AXIS Capital Holdings Limited (NYSE: AXS) announced the launch of AXIS Wholesale, a dedicated division for the wholesale market, led by Carlton Maner as CEO. This initiative aims to enhance customer service and product offerings tailored to the wholesale channel. The division will integrate existing business units including E&S Property, Primary Casualty, and Financial Institutions. With a shareholders' equity of $4.7 billion as of June 30, 2022, AXIS plans to strengthen its position in the specialty insurance sector while delivering improved services.
AXIS Capital announced the launch of its new insurance policy, the AXIS Cyber Technology and Miscellaneous Professional Liability (ACTM). This policy offers custom coverage for companies with revenues up to $2bn. ACTM combines various coverages, including Cyber, Technology Errors and Omissions, and Miscellaneous Professional Liability. It aims to assist small and mid-sized businesses across the US in addressing potential insurance gaps. The policy is designed to enhance clarity and certainty in coverage, thereby improving customer service.
AXIS Capital Holdings Limited (NYSE:AXS) has appointed Dan Draper as Group Chief Underwriting Officer, previously serving as Group Head of Underwriting. Draper will lead the centralization of underwriting analytics and enhance portfolio strategies. President and CEO Albert Benchimol expressed confidence in Draper’s leadership to drive improvements in portfolio quality and underwriting performance. This move aligns with AXIS's strategy to strengthen its position in specialty underwriting and deliver greater value to customers and shareholders.