AXIS Capital Q4 2019 Earnings Report
Key Takeaways
AXIS Capital reported a net loss attributable to common shareholders of $10 million for the fourth quarter of 2019. The company's performance was affected by a record typhoon season in Japan, poor crop conditions in the U.S., and high loss activity in property and aviation lines. However, strategic actions enabled a reduction in the ex-cat loss ratio.
Net loss attributable to common shareholders was $10 million, or $(0.12) per diluted common share.
Ex-PGAAP operating income was $7 million, or $0.08 per diluted common share.
Estimated pre-tax catastrophe and weather-related losses, net of reinsurance and reinstatement premiums, amounted to $140 million.
Pricing momentum continued to build across substantially all lines of business.
AXIS Capital
AXIS Capital
Forward Guidance
AXIS Capital anticipates favorable market conditions will continue through 2020, leading to pricing adequacy in more business lines and opportunities for profitable growth.
Positive Outlook
- Pricing momentum is accelerating.
- Favorable market conditions are expected to sustain through 2020.
- More lines of business are expected to reach pricing adequacy.
- The company aims to leverage its market position for profitable growth.
- Focus on driving growth in attractive lines and using digital capabilities for new business.