Reinsurance News
AXIS Capital Holdings
AXIS Capital Holdings is a specialty insurer and reinsurer with a global reach. Headquartered in Bermuda, AXIS operates out of numerous offices around the world, underwriting specialty insurance and reinsurance business.
Read our AXIS Capital insurance or reinsurance news and analysis below.
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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