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AXIS Capital reveals outcomes and ‘refreshed’ model


AXIS Capital reveals outcomes and ‘refreshed’ model | Insurance coverage Enterprise America



New tagline launched by way of international marketing campaign

AXIS Capital reveals results and 'refreshed' brand


Insurance coverage Information

By
Terry Gangcuangco


AXIS Capital Holdings has introduced a ‘refreshed’ model and the corporate’s monetary outcomes for the third quarter of 2023.

Interim financials

In line with the insurance coverage group’s earnings launch, right here’s how AXIS carried out within the three months and 9 months ended September 30:





Metric

Q3 2023

Q3 2022

9M 2023

9M 2022

Internet earnings / (loss) obtainable / attributable to frequent shareholders

$181 million

$(17 million)

$496 million

$152 million

Working earnings

$202 million

$3 million

$593 million

$33 million

Internet funding earnings

$154 million

$88 million

$425 million

$272 million

 

Within the third quarter, the corporate’s insurance coverage section reported an underwriting earnings price $105 million; gross written premium (GWP), $1.5 billion. Each figures are increased than the corresponding quantities in 2022.

The reinsurance section, in the meantime, bounced again from an underwriting loss to an underwriting earnings of $42 million in Q3. GWP grew by 15% within the interval.

“AXIS delivered one other robust quarter as we produced glorious outcomes throughout a number of measures,” president and chief government Vince Tizzio stated. “The quarter was highlighted by document working earnings per share on each a 3rd quarter and year-to-date foundation.

“The continued constructive momentum in our efficiency displays the progress we’ve made in enhancing our built-in underwriting technique to drive excellent cycle administration, ship constant worthwhile outcomes, and generate elevated e book worth per share.”

Model refresh

Apart from outlining its monetary outcomes, AXIS has additionally launched a world advertising and marketing marketing campaign to introduce the agency’s new “Specialty Options, Elevated” tagline.

Tizzio stated: “‘Specialty Options, Elevated’ underscores our give attention to supporting clients by delivering modern specialty options that ship immediately on their wants whereas pursuing our ambition to raise AXIS as a acknowledged chief in specialty insurance coverage and reinsurance.

“The brand new model id and marketing campaign illustrate our capability to assist clients discover options in a dynamic danger surroundings – and switch challenges into alternatives, and alternatives into new potentialities.”

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