AXIS Capital Announces Publication of the Company's 2020 Loss Development Triangles

Rhea-AI Summary

AXIS Capital Holdings Limited (NYSE: AXS) has released its 2020 Loss Development Triangles, which detail paid, incurred, and ultimate losses on both net and gross bases as of December 31, 2020. The document includes data for 11 reserving classes across the Insurance and Reinsurance segments, aiding in a direct reconciliation with the Company’s financial reports. As of March 31, 2021, AXIS Capital reported shareholders' equity of $5.2 billion and holds strong ratings of 'A+' from Standard & Poor's and 'A' from A.M. Best.

Positive

• Shareholders' equity reported at $5.2 billion as of March 31, 2021.
• Strong credit ratings: 'A+' from Standard & Poor's and 'A' from A.M. Best.

Negative

• None.

AXIS Capital Holdings Limited ("AXIS Capital" or the "Company") (NYSE: AXS) today announced the publication of the Company's 2020 Loss Development Triangles. A copy of this document is available in the Investor Relations section of the Company's website, www.axiscapital.com.

The data is presented as of December 31, 2020, on an accident-year basis and includes paid, incurred and ultimate losses on a net and gross basis. Development triangles for paid, incurred and ultimate losses are provided on a net of reinsurance basis, thus allowing for a more direct reconciliation between the triangles and the Company's published financial information. The information for the development triangles is provided for 11 reserving classes of business that fall under the Company's two reportable segments, Insurance and Reinsurance.

About AXIS Capital

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity at March 31, 2021 of $5.2 billion and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.

Website and Social Media Disclosure

We use our website (www.axiscapital.com) and our LinkedIn (AXIS Capital) and corporate Twitter (@AXIS_Capital) accounts as channels of distribution of Company information. The information we post through these channels may be deemed material. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, e-mail alerts and other information about AXIS Capital may be received by those enrolled in our "E-mail Alerts" program, which can be found in the Investor Information section of our website (www.axiscapital.com). The contents of our website and social media channels are not part of this press release.

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FAQ

What are the key features of AXIS Capital's 2020 Loss Development Triangles?

The 2020 Loss Development Triangles report by AXIS Capital includes data on paid, incurred, and ultimate losses, allowing for reconciliation with published financial statements.

What is AXIS Capital's shareholders' equity as of March 31, 2021?

AXIS Capital's shareholders' equity stood at $5.2 billion as of March 31, 2021.

What ratings does AXIS Capital hold from financial rating agencies?

AXIS Capital has an 'A+' ('Strong') rating from Standard & Poor's and an 'A' ('Excellent') rating from A.M. Best.

Where can I access AXIS Capital's 2020 Loss Development Triangles?

The 2020 Loss Development Triangles can be accessed in the Investor Relations section of AXIS Capital's website.