Hashtag: #AXISCapital
AXIS Capital 2015 Q3 Net Income: $248M
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the third quarter of 2015 of $248 million, or $2.50 per diluted common share, compared with $279 million, or $2.68 per diluted common share, for the third quarter of 2014. Net income available to common shareholders for the nine months ended September... Read more of this article
AXIS To Close Australia Retail, Cut 100 Jobs
AXIS Capital Holdings Limited announced they ”will wind down its retail insurance operations in Australia” and as a result of this, the Company anticipates a workforce reduction of approximately 100 positions. Albert Benchimol, President and Chief Executive Officer of AXIS Capital, said: “We are fully committed to the hybrid model under... Read more of this article
Video: Three-Pronged Strategy Still Appropriate
Axis Capital President and CEO Albert Benchimol recently appeared on A.M. Best TV, saying that his company’s three-pronged strategy – focusing on insurance, reinsurance, and accident and health – is appropriate moving forward. Mr. Benchimol said, “It’s appropriate, after all the works that we had done with integration... Read more of this article
AXIS Deal Cancelled, EXOR To Buy PartnerRe
Bermuda-based AXIS Capital Holdings Limited today [Aug 3] announced that it has accepted a request from PartnerRe Ltd. to terminate the amalgamation agreement with AXIS Capital, as PartnerRe Ltd. has reached a definitive agreement with EXOR buy PartnerRe for $6.9 billion. PartnerRe will pay AXIS Capital a $315 million fee to immediately terminate... Read more of this article
AXIS Capital 2015 Q2 Net Income: $63 Million
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the second quarter of 2015 of $63 million, or $0.63 per diluted common share, compared with $191 million, or $1.79 per diluted common share, for the second quarter of 2014. Net income available to common shareholders for the six months ended June 30,... Read more of this article
PartnerRe & AXIS Reaffirm Merger Commitment
Bermuda-based AXIS Capital Holdings Limited and PartnerRe Ltd. said they reaffirmed their “commitment to a superior proposal to the terms contemplated by EXOR’s proposed exchange offer for PartnerRe preferred shares, as revised on July 20, 2015, provided that the Companies receive a private letter ruling from the IRS that the change in terms... Read more of this article
AXIS: Our Offer For PartnerRe Is “Superior”
According to AXIS Capital Holdings Limited, its merger agreement with PartnerRe Ltd. “is superior to the EXOR offer both immediately and in the future.” The company said, “We provide continuity of interest for investors to participate in the future upside resulting from the substantial strategic and financial benefits of the combined... Read more of this article
PartnerRe On Revised Proposal From EXOR
PartnerRe Ltd. confirmed that it has received a revised acquisition proposal from EXOR S.p.A, offering a $3.00 per common share special dividend. The company said, “In response to EXOR’s revised offer, its sixth revised proposal, the PartnerRe Board has determined that the latest EXOR proposal would reasonably be likely to result in a “Superior... Read more of this article
“Enhanced” Merger Terms For PartnerRe & AXIS
AXIS Capital Holdings Limited and PartnerRe Ltd announced enhanced merger terms that increase to $17.50 per common share the one-time, special cash dividend payable to each holder of record of PartnerRe common shares immediately prior to the closing of the amalgamation between PartnerRe and AXIS Capital. A statement from the two Bermuda-based re/insurers... Read more of this article
AXIS & PartnerRe “Exploring Enhancements”
PartnerRe Ltd. and AXIS Capital Holdings Limited said they are “jointly exploring enhancements to the terms of their amalgamation agreement.” “As a result, the special meetings of PartnerRe and AXIS Capital shareholders to approve the amalgamation agreement that were originally scheduled for July 24, 2015 will now take place on August... Read more of this article
AXIS Squash Challenge Day 2 Results
The AXIS Squash Challenge 2015 continued at the Bermuda Squash Racquets Association Club with eight Team games on tap. Four games were decided by one point, Team Brewer defeated Tough like Jayne 5-4, Sweat Box defeated Love Handles 5-4, Tutus Heaven defeated Dream Team 5-4 and Hit or Miss defeated Scramblers 5-4. Team Brewer defeated Tough like Jayne... Read more of this article
2015 AXIS Squash Challenge Gets Underway
The AXIS Squash Challenge 2015 got underway at the Bermuda Squash Racquets Association Club with eight team games on tap. Two games were decided by one point, while the other games were comfortably won. Ren Re defeated Team Brewer 5-4 and the Scramblers defeated the Sweatbox 5-4. The biggest wins on the night was the 9-0 win for Hit or Miss against... Read more of this article
PartnerRe Confirms Receipt Of EXOR Proposal
Bermuda-based PartnerRe Ltd. confirmed that it has received a revised offer from EXOR to acquire all of the outstanding common shares of the company for $137.50 per share in cash. The company said, “Consistent with its fiduciary duties and subject to the existing merger agreement with AXIS Capital, PartnerRe’s Board of Directors, in consultation... Read more of this article
AXIS Capital Declares $0.29 Quarterly Dividend
Bermuda-based AXIS Capital Holdings Limited s has declared a quarterly dividend of $0.29 per common share. The common dividend will be payable on July 15, 2015 to the shareholders of record at the close of business on June 30, 2015. In addition, the Board declared a dividend of $1.875 per Series B 7.50% Preferred Share, a dividend of $0.429688 per... Read more of this article
EXOR Still “Committed” To Offer For PartnerRe
EXOR said it “notes the decision by the Board of Directors of PartnerRe Ltd. to abandon its prior agreement and accept a revised but still inferior transaction from AXIS Capital Holdings Limited in preference to EXOR’s own proposal.” Yesterday PartnerRe, a Bermuda-based re/insurer, reaffirmed its commitment to the planned merger with... Read more of this article
PartnerRe Reaffirms Commitment: AXIS Merger
Bermuda-based PartnerRe Ltd. today [May 4] announced that its Board of Directors has rejected the unsolicited proposal by EXOR to acquire PartnerRe. PartnerRe said, “The Company further reaffirmed its commitment to the planned merger with AXIS Capital Holdings Limited and announced enhanced merger terms that allow PartnerRe to pay a one-time... Read more of this article
