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Jun 30, 2020
AXIS Capital Q2 2020 Earnings Report
Reported a solid quarter with positive momentum in the underlying performance.
Key Takeaways
AXIS Capital reported a solid second quarter, with net income available to common shareholders of $112 million, or $1.33 per diluted common share, and operating income of $72 million, or $0.84 per diluted common share. The company saw improvements in its current accident year combined ratio and expense ratio, reflecting cost discipline and actions taken to strengthen the portfolio and operating efficiency.
Improved current accident year combined ratio by 4.6 points, excluding catastrophe and weather-related losses.
Net investment income was $45 million, reduced from $93 million in the first quarter of 2020.
Book value per diluted common share increased to $55.09, an 11% increase compared to March 31, 2020.
The company maintained its net claims provision for the COVID-19 pandemic established in the first quarter of 2020.
AXIS Capital
AXIS Capital
AXIS Capital Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comReinsurance Revenue
CapyFin.com Forward Guidance
No forward guidance was provided in the text.
Revenue & Expenses
Visualization of income flow from segment revenue to net income