AXIS Capital 2015 Q4 Net Income: $135 Million
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the fourth quarter of 2015 of $135 million, or $1.39 per diluted common share, compared with net income of $164 million, or $1.60 per diluted common share, for the fourth quarter of 2014.
Net income available to common shareholders for the full year 2015 was $602 million, or $6.04 per diluted common share, compared with $771 million, or $7.29 per diluted common share, for 2014.
Our operating income1 for the fourth quarter of 2015 was $120 million, or $1.23 per diluted common share, compared with an operating income of $120 million, or $1.18 per diluted common share, for the fourth quarter of 2014.
For the full year 2015, AXIS Capital reported operating income of $401 million, or $4.02 per diluted common share, compared with operating income of $563 million, or $5.32 per diluted common share, for 2014
Albert Benchimol, President and CEO of AXIS Capital, said, “We are pleased to report growth in diluted book value per share, adjusted for dividends, of 9% for 2015. While 2015 was a challenging year on many fronts, it was also a year of powerful maturation across our organization, resulting in a stronger, more focused AXIS.
“Over the course of the year, we steered the company towards a future of enhanced profitability and stability. Importantly, we are executing on the right actions for the current challenging market conditions-improving the quality of our book of business, growing the scale and profitability of recent initiatives, and tightening expense control and capital efficiency.
“Normalizing for the unusual frequency of mid-sized energy losses this year, our results for the quarter and the year demonstrated progress on all of these fronts.”
