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Mar 31, 2021
AXIS Capital Q1 2021 Earnings Report
Net income available to common shareholders was reported, and the company saw tangible proof that its efforts to reposition its portfolio are generating real traction.
Key Takeaways
AXIS Capital reported a net income available to common shareholders of $116 million, or $1.36 per diluted common share, for the first quarter of 2021. The company's results were highlighted by a year-over-year reduction of 4.3 points to its current accident year combined ratio ex-cat and weather, with improvements seen in both segments.
Operating income of $83 million, or $0.97 per diluted common share
Improvement of 4.3 points in current accident year combined ratio, excluding catastrophe and weather-related losses, compared to the prior year
Annualized return on average common equity (ROACE) of 9.9% and annualized operating ROACE of 7.1%
Book value per diluted common share of $53.03, an increase of $3.25, or 7%, compared to March 31, 2020
Revenue by Segment
Forward Guidance
AXIS believes it is poised to continue to demonstrate meaningful improvements to its performance in 2021 and beyond.
Positive Outlook
- Market conditions favorable across virtually all of our lines of business
- Performance is seeing positive momentum as the global economy continues to recover
- Strong franchise
- Deep relationships with our brokers and partners in distribution
- Leadership positions across our most attractive markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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