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Sep 30, 2020
AXIS Capital Q3 2020 Earnings Report
AXIS Capital's financial performance was impacted by significant catastrophe losses, but underlying performance showed positive trends.
Key Takeaways
AXIS Capital reported a net loss attributable to common shareholders of $73 million, or ($0.87) per diluted common share, for the third quarter of 2020, compared to net income of $28 million, or $0.33 per diluted common share, for the third quarter of 2019. The quarter was significantly impacted by catastrophe and weather-related losses, but the company saw positive trends in underlying performance, with a 5.2 point improvement in the current accident year combined ratio, excluding catastrophe and weather-related losses.
Experienced a 5.2 point improvement in current accident year combined ratio, excluding catastrophe and weather-related losses.
Estimated pre-tax catastrophe and weather-related losses of $240 million.
Maintained net loss estimate for COVID-19 related first party coverages.
Book value per diluted common share decreased by ($0.34) to $54.75.
AXIS Capital
AXIS Capital
AXIS Capital Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comReinsurance Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income