Axis Capital Holders Limited - AXS STOCK NEWS

AXIS Capital has declared a quarterly dividend of $0.42 per common share, payable on July 15, 2021, to shareholders of record by June 29, 2021. Additionally, a dividend of $34.375 per Series E 5.50% Preferred Share will also be paid on the same date, equivalent to $0.34375 per depositary share. As of March 31, 2021, AXIS Capital reported shareholders' equity of $5.2 billion and maintains strong ratings of 'A+' from Standard & Poor's and 'A' from A.M. Best.

AXIS Insurance has appointed Thomas Uribe as Assistant Vice President for its U.S. Excess Casualty business. Based in Alpharetta, Georgia, he will enhance relationships with distribution partners and support new business initiatives. Uribe brings extensive experience from AXA XL, Berkshire Hathaway, and Swiss Re, which positions him as a valuable asset for meeting complex client needs. This strategic hiring aims to strengthen AXIS's underwriting strategy and response to the evolving Excess Casualty marketplace.

AXIS Capital Holdings Limited (AXS) reported its first-quarter 2021 results, showing a net income of $116 million, or $1.36 per diluted share, following a net loss of $(185) million in Q1 2020. The combined ratio improved to 98.9%, down from 119.8% year-over-year. Gross premiums written increased by 4% to $2.5 billion, with insurance segment premiums up 17%. Catastrophe-related losses significantly decreased from 2020, totaling $110 million compared to $300 million. The company highlighted progress in re-underwriting efforts and strong market conditions, positioning AXIS for continued improvement.

AXIS Re, a segment of AXIS Capital (NYSE: AXS), has appointed Lisa Hiscock as Senior Underwriter for Lloyd’s Casualty, effective immediately. She brings over 10 years of industry experience, having worked at Hiscox and AXA XL. In her role, Ms. Hiscock will underwrite Lloyd’s Casualty treaty business, enhance existing partnerships, and identify growth opportunities. Her experience across various classes and regions is expected to aid AXIS Re in achieving its business objectives. She will initially be based in Australia before relocating to the UK later in 2021.

AXIS Capital Holdings Limited (NYSE: AXS) has announced a preliminary net loss estimate of $105 million to $115 million for the first quarter, primarily due to weather-related events like Winter Storms Uri and Viola, with losses in Texas estimated at $80 million to $90 million. The company confirmed no changes to its COVID-19 pandemic loss estimates from 2020. Additionally, AXIS reported improvements in accident year loss ratios, excluding catastrophe losses. A conference call discussing these results is set for April 29, 2021, at 9:30 AM (EDT).

AXIS Capital Holdings Limited (NYSE: AXS) is set to release its financial results for Q1 2021 on April 28, 2021, post-market. CEO Albert Benchimol and CFO Peter Vogt will discuss the results in an investor teleconference on April 29, 2021, at 9:30 a.m. EDT. The teleconference can be accessed via phone or through a live webcast on the company's website. AXIS Capital has reported shareholders' equity of $5.3 billion as of December 31, 2020, with strong ratings from Standard & Poor's and A.M. Best.

AXIS Insurance has appointed Stacey Sutts as the new Lead Underwriter for U.S. Accident and Health, effective immediately. Sutts will focus on expanding partnerships and exploring growth opportunities in various coverage areas, enhancing the company's specialty A&H underwriting strategy. With over 17 years in underwriting and actuarial roles, she previously worked at Chubb and Prudential Financial. The decision reflects AXIS Capital's commitment to growth in the specialty A&H sector, as noted by James Hamilton, Global Head of A&H for AXIS Insurance.

AXIS Insurance, a part of AXIS Capital (NYSE:AXS), has announced the hiring of two seasoned underwriters for its Global Cyber and Technology team. Alex White joins as Senior Underwriter focusing on Cyber and Technology Errors and Omissions in Bermuda, while Jeff Bayer will focus on similar risks for small and medium-sized enterprises in the U.S. Both individuals bring years of relevant experience, enhancing AXIS's capabilities to address complex risks in the evolving cyber threat landscape.

AXIS Insurance has partnered with Elpha Secure to enhance cyber insurance solutions for small businesses. This collaboration aims to provide comprehensive cyber security tools through Elphaware, a SaaS application designed to mitigate cyber threats. Key features of Elphaware include secure backups, multi-factor authentication, rapid system restoration, VPN creation, and anomaly detection. Dan Trueman, Global Head of Cyber and Technology at AXIS, emphasized the need for effective cyber risk management. The partnership is expected to improve resilience and stability for small enterprises facing increasing cyber risks.