Loading...
•
Mar 31, 2024
AXIS Capital Q1 2024 Earnings Report
AXIS Capital's financial performance was elevated by consistent returns and strong metrics.
Key Takeaways
AXIS Capital reported a strong first quarter with net income available to common shareholders of $388 million, or $4.53 per diluted common share, and operating income of $220 million, or $2.57 per diluted common share. The company capitalized on favorable market conditions, growing gross premiums written by 11% over the prior year period. The specialty insurance business continued to perform strongly, achieving a combined ratio of 86.6% and record first quarter premium production of $1.6 billion.
Annualized return on average common equity was 32.1% and annualized operating ROACE was 18.2%.
Income tax benefit was $125 million, inclusive of a net deferred tax benefit of $163 million attributable to Bermuda's Corporate Income Tax.
Book value per diluted common share was $57.13, an increase of $3.07, or 5.7%, compared to December 31, 2023.
Combined ratio was 91.1%
Revenue by Segment
Forward Guidance
No forward guidance was provided in the transcript.
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
Loading earnings performance data...
Loading earnings reaction data...