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Stock impact report

AXIS Capital Provides Preliminary Estimate of Pre-Tax Catastrophe Losses Impacting Third Quarter 2019 Financial Results

Axis Capital Holdings Limited (AXS) 
Last axis capital holdings limited earnings: 1/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: axiscapital.com
Company Research Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)--AXIS Capital Holdings Limited (“AXIS Capital” or the “Company”) (NYSE: AXS) today announced a preliminary pre-tax loss estimate for Hurricane Dorian, Japanese typhoons and other weather-related events in the range of $150 million to $175 million, net of estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums. The estimate includes full limit losses from aggregate excess of loss reinsurance treaties that were also impacted by other 2019 catastrophe and weather-related events. The Company's loss estimate is consistent with industry insured losses of approximately $6 billion for Hurricane Dorian and $8 billion for third quarter Japanese typhoons.The Company’s loss estimate is based on its ground-up assessment of losses from individual contracts and treaties exposed to the affected regions, including preliminary information from clients, brokers and loss adjusters. Industry insure Show less Read more
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