The firm just missed analyst estimates after reporting a $65mn Covid-19-related loss in its mortgage segment that accompanied a higher cat loss total in general, causing operating earnings to fall.
Earnings at Axis fell as the company reported $300mn in cat losses – including $235mn stemming from the Covid-19 pandemic – as the carrier continued to show strong underlying improvement.
AIG will report earnings tonight and face investors tomorrow, and we see big strategic questions hanging over it on (a) AIG 200, (b) its capital allocation strategy and (c) its market sensitivity.
