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AXIS Capital Completes Acquisition Of Novae

AXIS Capital Completes Acquisition Of Novae

Bermuda-based AXIS Capital Holdings has received clearance from all applicable regulators, including the European Commission, and has finalized the completion of its acquisition of Novae Group plc. The acquisition creates a $2 billion insurer in London and a top ten [re]insurer at Lloyd’s, with total global gross written premiums of $6 billion [based... Read more of this article

Everest Re, AXIS & Arch Q3 Loss Estimates

Everest Re, AXIS & Arch Q3 Loss Estimates

More Bermuda-based re/insurers – Everest Re Group, AXIS Capital Holdings and Arch Capital Group – have announced their preliminary estimates of third quarter 2017 catastrophe losses. Everest Re Group: $900 Million Everest Re Group, Ltd. announced that it expects to incur pretax catastrophe losses, net of reinsurance and reinstatement... Read more of this article

AXIS Capital Declares $0.38 Quarterly Dividend

AXIS Capital Declares $0.38 Quarterly Dividend

Bermuda-based AXIS Capital Holdings has declared a quarterly dividend of $0.38 per common share. The common dividend will be payable on October 16, 2017 to the shareholders of record at the close of business on October 9, 2017. In addition, the Board declared a dividend of $0.34375 per Series D 5.50% Preferred Share and a dividend of $34.375 per Series... Read more of this article

AXIS Capital To Acquire Shares Of Novae Group

AXIS Capital To Acquire Shares Of Novae Group

Following consultation with the European Commission, and in accordance with applicable regulations, Bermuda-based AXIS Capital Holdings will complete its acquisition of Novae Group plc in two phases, beginning with the acquisition of Novae shares, expected to occur on October 2, 2017. This is to be followed by management control and integration of... Read more of this article

AXIS Capital Offer For Novae Accepted

AXIS Capital Offer For Novae Accepted

Bermuda-based AXIS Capital Holdings Limited announced that at the General Meeting held earlier today [Aug 29] in London, Novae Group plc shareholders approved the scheme of arrangement with AXIS Capital, with approximately 99.97 percent of shareholder votes cast in favor of the proposal. Based on 2016 actual results, the combination overall represents... Read more of this article

AXIS Capital Announces Final Offer For Novae

AXIS Capital Announces Final Offer For Novae

Bermuda-based AXIS Capital Holdings Limited announced that it has made a full and final offer of 715 pence per share for Novae Group plc. This offer values the entire share capital of Novae at approximately £477.6 million. Albert Benchimol, President and CEO of AXIS Capital, commented, “This acquisition is fully aligned with AXIS Insurance’s international... Read more of this article

AXIS Reports Second Quarter Income Of $85M

AXIS Reports Second Quarter Income Of $85M

Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the second quarter of 2017 of $85 million, or $1.01 per diluted common share, compared to $119 million, or $1.29 per diluted common share, for the second quarter of 2016. Net income available to common shareholders for the six months ended June 30, 2017... Read more of this article

AXIS Donates $10,000 To The Reading Clinic

AXIS Donates $10,000 To The Reading Clinic

The Reading Clinic [Registered Charity #126] said they are honoured to be the recipient of a grant in the amount of $10,000.00 from global insurer and reinsurer AXIS Capital Holdings Limited. This grant has been provided in order to assist The Reading Clinic in the provision of assessment services and tutoring for children with learning differences,... Read more of this article

A.M. Best Comments On Credit Ratings Of AXIS

A.M. Best Comments On Credit Ratings Of AXIS

A.M. Best has commented that the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” of AXIS Specialty Limited and its operating affiliates, as well as the Long-Term ICR of “a-” of AXIS Specialty Limited’s parent, AXIS Capital Holdings Limited [collectively referred to as AXIS] [both... Read more of this article

AXIS Capital Announces Acquisition Of Novae

AXIS Capital Announces Acquisition Of Novae

Bermuda-based AXIS Capital Holdings Limited is acquiring Novae Group plc, a diversified specialty [re]insurer that operates through Lloyd’s of London. The $604 million USD transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion USD insurer in the London specialty market anchored as a top... Read more of this article

AXIS Capital Donates $150,000 To Adara

AXIS Capital Donates $150,000 To Adara

AXIS Capital Holdings Limited will donate $150,000 to Adara, a leading non-profit working to improve the lives of women and children living in poverty. Through the commitment, AXIS is providing funding that will directly support Adara’s work in Uganda and Nepal over the next three years. A spokesperson said, “Thanks to Adara’s innovative model,... Read more of this article

AXIS To Continue Sponsoring Girls Cricket

AXIS To Continue Sponsoring Girls Cricket

The Bermuda Cricket Board announced that Axis Capital has confirmed its support of girl’s cricket in Bermuda. Axis’s assistance will include:An all-girls U11 team, Axis Angels competing in the HIscox U11 League An all-girls U8 team, Little Angels, competing in the Tokio MR U8 league Support and promotion of the BSSF Primary Girls and Middle... Read more of this article

Axis Donates $10,000 To BSMART Programme

Axis Donates $10,000 To BSMART Programme

Axis Specialty Limited recently donated $10,000 to BSMART Foundation’s After-School S.M.A.R.T. [Stimulating Maturity through Accelerated Readiness Training] Program, which enables BSMART to provide the program to families in need on a full or partial scholarship. “We are thankful that Axis can provide funding to families in need. We have a waiting... Read more of this article