AXIS Capital Q4 2023 Earnings Report
Key Takeaways
AXIS Capital reported a net loss attributable to common shareholders of $(150) million and an operating loss of $(107) million for Q4 2023. However, the company saw improvement in its current accident year combined ratio and profitable growth within its core specialty insurance business.
Net loss attributable to common shareholders of $(150) million, or $(1.76) per diluted common share, and operating loss of $(107) million, or $(1.25) per diluted common share.
Net adverse prior year reserve development of $425 million, pre-tax, or 33.6 points, and underlying operating income of $254 million, or $2.94 per diluted common share.
Improvement of 3.7 points in the current accident year combined ratio to 91.0%.
Operating income of $486 million and a 4.5 point year-over-year improvement in the current accident year combined ratio to 91.8%.
AXIS Capital
AXIS Capital
Forward Guidance
AXIS Capital did not provide specific forward guidance in this earnings report.