Axis returns to Q1 underwriting profit on strong insurance performance
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Axis returns to Q1 underwriting profit on strong insurance performance

Bernard Goyder
April 28, 2021
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axis-new-with-benchimol-bermuda.jpg

Axis Capital made an underwriting profit of $40mn in the first quarter of 2021, propelled by a sharp turnaround within the Bermudian’s insurance segment.

The carrier generated $0.97 in operating earnings per share, well ahead of analysts’ $0.65 estimate, and representing a rebound from Q1 2020 when Covid-19 losses helped push the insurer to a loss per share of $1.94.

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NewsAxis Capital
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Bernard Goyder
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