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AXIS Capital Holdings

AXIS announces Typhoon Hagibis loss of up to $110mn

26th November 2019

Bermudian insurer and reinsurer AXIS Capital Holdings Limited has announced a pre-tax loss estimate for Typhoon Hagibis of between $90 million and $110 million, net of recoveries from reinsurance and retrocession, and including the impact of reinstatement premiums. AXIS Capital states that its loss estimate is in line with industry insured ... Read the full article

AXIS Capital invests in health insurtech firm HealthCare.com

6th November 2019

Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has invested in health insurance-technology firm HealthCare.com. AXIS Capital participated in the insurtech’s Series B round of funding alongside CNO Financial Group and Second Alpha Partners, a New York-based private equity firm specialising in technology-enabled companies. The investment round brings HealthCare.com’s total capital ... Read the full article

More rate improvements ahead after market pain in 2019: AXIS CEO Benchimol

1st November 2019

AXIS Capital is anticipating ongoing insurance and reinsurance pricing increases into the 2019 renewals and beyond, according to its Chief Executive Officer (CEO), Albert Benchimol. Speaking during the firm’s third quarter earnings call, Benchimol explained that rates remain inadequate in many lines, and should be spurred on by the further “pain” ... Read the full article

Longer-term, growing in Japan is the right call, says AXIS CEO

1st November 2019

Despite 2019 being a highly active year for Japanese typhoons, AXIS Capital's decision to take advantage of improved market conditions and expand in the region remains the right call, according to the Bermudian re/insurer's Chief Executive Officer (CEO), Albert Benchimol. The insurer and reinsurer revealed in its second-quarter 2019 earnings call ... Read the full article

“Disappointing quarter” sees AXIS Capital’s combined ratio weaken to 109.4%

30th October 2019

Bermudian insurer and reinsurer, AXIS Capital Holdings Limited has reported net income of $28 million and an operating loss of $33 million for the third-quarter of 2019, as catastrophe, credit and aviation line losses pushed the firm's combined ratio to 109.4%. The re/insurer's Q3 2019 results include pre-tax weather-related losses, net ... Read the full article

AXIS to limit thermal coal, oil sands underwriting & investments

16th October 2019

Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced a new policy which addresses the firm's underwriting of, and investments in, thermal coal and oil sands-related business. Amid ongoing global pressure to mitigate the impacts of climate risks and transition to a low-carbon economy, numerous insurers and reinsurers have taken ... Read the full article

AXIS Capital pegs Q3 cat losses at up to $175mn, exceeding forecasts

11th October 2019

Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has estimated that it will incur between $150 million and $175 million of catastrophe losses in the third quarter of 2019. The preliminary pre-tax estimates relate to losses stemming from Hurricane Dorian, Japanese typhoons, and other weather related events. Notably, this loss range ... Read the full article

AXIS Capital withdraws support for Australia’s Carmichael mine, sources report

3rd October 2019

Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has dropped its bid to provide coverage for the controversial Carmichael coal mine project in Australia, according to sources at Reuters. The publication said that sources close to the company confirmed that AXIS had withdrawn its quotes for insurance of the mine’s ... Read the full article

AXIS Capital appoints Martin McCarty as Global Treasurer

30th September 2019

AXIS Capital Holdings Limited has announced the appointment of Martin McCarty to the position of Global Treasurer. In this role, McCarty will be responsible for overall capital, foreign currency, cash and liquidity management, as well as coordination with ratings agencies on behalf of AXIS Capital. Additionally, he will be tasked with providing ... Read the full article

Global reinsurance sector needs global corrections, says AXIS Re CEO, Arora

11th September 2019

Overall, current rate increases are not sustainable and the reinsurance market needs to correct itself on a global basis, says Steve Arora, Chief Executive Officer (CEO) of AXIS Re. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Arora, CEO of the reinsurance arm of ... Read the full article

AXA XL’s Gino Smith joins AXIS Re as Head of Property, EMEA LatAm

14th August 2019

Gino Smith has joined AXIS Re, the reinsurance arm of Bermuda's AXIS Capital Holdings Limited, as Head of Property for EMEA LatAm, effective November 2019. In his new role he will be based in Zurich and will report to President of EMEA LatAm, Andy Hottinger. Smith will take oversight of the reinsurer's ... Read the full article

Price action to persist in an “underwriters’ market,” says AXIS CEO Benchimol

6th August 2019

The President and Chief Executive Officer (CEO) of AXIS Capital Holdings Limited, Albert Benchimol, has said that current earnings will be crucial in what is still not a hard market, but an underwriters' market. In light of more pronounced rate increases at the June and July renewals, insurance and reinsurance company ... Read the full article

Swiss Re’s Jason Busti joins AXIS Re as President of North America

1st August 2019

Bermuda domiciled re/insurer AXIS Capital Holdings Limited has announced that Jason Busti has joined its reinsurance arm, AXIS Re as President of North America, based in New York. He joins the firm after 22 years with reinsurance giant Swiss Re, and in his new role, will be a member of the ... Read the full article

AXIS reports reinsurance growth, higher net income in Q2

31st July 2019

AXIS Capital Holdings Limited has reported higher net income for the second-quarter of 2019 when compared with the prior year, while its underwriting income fell to $78.7 million, resulting in a combined ratio of 96.1%. Bermudian insurer and reinsurer AXIS Capital's combined ratio improved by 3% in Q2 2019 when compared ... Read the full article

AXIS expands capital markets reinsurance support with $39m Alturas Re sidecar issuance

2nd July 2019

Bermudian insurer and reinsurer AXIS Capital Holdings Limited has sponsored a $39 million issuance of notes to its collateralised reinsurance sidecar, Alturas Re Ltd. The latest issuance is the third of this year and takes the total amount of capital backing the sidecar vehicle to $169 million for 2019. As reported by ... Read the full article

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