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The carrier is targeting an IPO valuation between $2.6bn and $2.9bn. -
Growing economic and population exposures are driving potentially larger insured losses.
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Renewal rates were favorable compared to what could have happened after several hurricanes.
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The commercial risk and reinsurance units delivered mid-single-digit growth.
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Axis is retroceding $2.3bn of reinsurance segment reserves to Enstar.
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However, the firm will take a “conservative approach” until the improvements are shown in data.
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Lucy Clarke said the broking business was resilient in the face of macro challenges.
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The only major product line to see rate increases was casualty.
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In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Severe weather in March drove monthly and Q1 losses to historic highs.
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The Kelso and Arch-backed run-off player has retained Evercore to advise.
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