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Mar 31, 2020
AXIS Capital Q1 2020 Earnings Report
AXIS Capital's financial results were impacted by COVID-19 and the company reported a net loss attributable to common shareholders.
Key Takeaways
AXIS Capital reported a net loss attributable to common shareholders of $185 million, or ($2.20) per diluted common share, and an ex-PGAAP operating loss of $161 million, or ($1.90) per diluted common share. The results were impacted by estimated pre-tax catastrophe and weather-related losses of $300 million, including $235 million attributable to the COVID-19 pandemic. However, the ex-PGAAP current accident year combined ratio, excluding catastrophe and weather-related losses, improved by 4.2 points.
Net loss attributable to common shareholders of $185 million, or ($2.20) per diluted common share, and ex-PGAAP operating loss of $161 million, or ($1.90) per diluted common share.
Estimated pre-tax catastrophe and weather-related losses, net of reinsurance and reinstatement premiums, of $300 million, or 26.9 points, including $235 million, or 21.3 points attributable to the COVID-19 pandemic.
Current accident year combined ratio, excluding catastrophe and weather-related losses decreased by 3.8 points and ex-PGAAP current accident year combined ratio, excluding catastrophe and weather-related losses decreased by 4.2 points.
Book value per diluted common share of $49.78
Revenue by Segment
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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