Hashtag: #AXISCapital

AXIS Launches Cyber Center Of Excellence

AXIS Launches Cyber Center Of Excellence

Addressing the more than $445 billion cost that companies incur each year due to the threat of cybercrime and cyberattacks, AXIS Capital Holdings Limited announced the launch of the AXIS Cyber Center of Excellence. It will provide a broad range of commercial insurance protection and mitigation solutions for tangible and intangible assets, relating... Read more of this article

A.M. Best Revises Outlooks For AXIS Capital

A.M. Best Revises Outlooks For AXIS Capital

A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” of the operating subsidiaries of Bermuda-based AXIS Capital Holdings. Additionally, A.M. Best has revised the outlook to negative from stable and affirmed the Long-Term... Read more of this article

AXIS Reports Fourth Quarter 2017 Results

AXIS Reports Fourth Quarter 2017 Results

Bermuda-based AXIS Capital Holdings Limited reported net loss attributable to common shareholders for the fourth quarter of 2017 of $38 million, or $[0.46] per diluted common share, compared with net income of $131 million, or $1.48 per diluted common share, for the fourth quarter of 2016. Net loss attributable to common shareholders for the year ended... Read more of this article

AXIS Capital Finality On Legacy Novae Business

AXIS Capital Finality On Legacy Novae Business

AXIS Capital Holdings Limited announced that AXIS Managing Agency Ltd, a subsidiary of AXIS Capital and the managing agent of Syndicate 2007 has entered into an agreement for the Reinsurance to Close [RITC] of the 2015 and prior years of account of Syndicate 2007. “This RITC transaction covers the net reserve for losses and loss expenses associated... Read more of this article

AXIS Capital Estimate Q4 Losses Of $130M

AXIS Capital Estimate Q4 Losses Of $130M

Bermuda-based AXIS Capital Holdings Limited announced that its preliminary estimate of the total net financial impact from fourth quarter 2017 catastrophe and weather-related losses is $130 million, net of tax and estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums. This estimate... Read more of this article

AXIS Aligns Lloyd’s Managing Agency Platforms

AXIS Aligns Lloyd’s Managing Agency Platforms

AXIS Capital Holdings Limited and its operating subsidiaries [AXS] announced that it has received authorization from Lloyd’s for AXIS Managing Agency Ltd to commence management and oversight of Novae Syndicate 2007 and SPS 6129. The authorization became effective January 1, 2018, and creates a single managing agent structure for AXIS’ operations... Read more of this article

AXIS Capital Declares $0.39 Quarterly Dividend

AXIS Capital Declares $0.39 Quarterly Dividend

Bermuda-based AXIS Capital Holdings Limited announced that the Company’s Board of Directors has declared a quarterly dividend of $0.39 per common share, which represents an increase of 3%. The common dividend will be payable on January 16, 2018 to the shareholders of record at the close of business on December 29, 2017. In addition, the Board declared... Read more of this article

AXIS Capital Prices $350 Million Of Senior Notes

AXIS Capital Prices $350 Million Of Senior Notes

Bermuda-based AXIS Capital Holdings Limited announced that its subsidiary, AXIS Specialty Finance PLC, has priced an offering of $350.0 million aggregate principal amount of 4.000% Senior Notes due 2027, fully and unconditionally guaranteed by AXIS Capital, pursuant to an effective shelf registration statement. The Issuer intends to use the proceeds... Read more of this article

AXIS Capital Launches Offering Of Senior Notes

AXIS Capital Launches Offering Of Senior Notes

Bermuda-based AXIS Capital Holdings Limited has launched an offering by its subsidiary, AXIS Specialty Finance PLC of U.S. dollar-denominated, 10-year, senior, unsecured notes in aggregate principal amount of up to $350 million, fully and unconditionally guaranteed by AXIS Capital, pursuant to an effective shelf registration statement. The Issuer... Read more of this article

AXIS Capital Report Q3 Loss Of $468 Million

AXIS Capital Report Q3 Loss Of $468 Million

Bermuda-based AXIS Capital Holdings Limited reported net loss attributable to common shareholders for the third quarter of 2017 of $468 million, or $[5.61] per diluted common share, compared to net income of $177 million, or $1.96 per diluted common share, for the third quarter of 2016. Net loss attributable to common shareholders for the nine months... Read more of this article

AXIS Names Steve Arora As Reinsurance CEO

AXIS Names Steve Arora As Reinsurance CEO

AXIS Capital Holdings Limited announced that Steve Arora has been named Chief Executive Officer of AXIS Re. Mr. Arora joins the Company from Swiss Re where he spent 18 years in a variety of senior positions, most recently as Head of Casualty Reinsurance and as a member of the Reinsurance Executive Committee. He has extensive international experience... Read more of this article

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