Axis Cap Hldgs Ltd - AXS STOCK NEWS

AXIS Re has appointed Katie Partington Howarth as Chief Underwriting Officer and Head of the Reinsurance Products Division. Reporting to CEO Steve Arora, she will oversee global underwriting and portfolio management. With over 20 years in the reinsurance sector, her previous expertise includes senior roles at Argo and Ariel Re. This leadership change aims to strengthen AXIS Re's profitability in the reinsurance market, supported by Ms. Partington Howarth's extensive experience and analytical skills.

AXIS Capital Holdings Limited (NYSE: AXS) reported a net loss of $5 million ($0.06 per share) for Q4 2020, down from $10 million ($0.12 per share) in Q4 2019. The full-year net loss was $151 million ($1.79 per share), compared to a profit of $282 million ($3.34 per share) in 2019. Despite challenges from COVID-19 and heightened hurricane activity, AXIS improved its combined ratio ex-catastrophe to 91.8% in Q4 2020 from 96.3% in Q4 2019, indicating progress in underwriting performance. Gross premiums written increased by 7% to $1.3 billion, although net premiums written fell slightly. The company remains optimistic about future growth.

AXIS Insurance, a segment of AXIS Capital (NYSE: AXS), has hired Nicholas Boswell Brown and Claire Whelan as Renewable Energy Underwriters, effective April. This move aims to enhance AXIS's Renewable Energy business in Spain, Portugal, and Latin America, which are rapidly growing markets. Richard Carroll, Global Head of Renewable Energy, emphasized their experience and insights into the industry's evolving needs. Boswell Brown joins from Aon with a decade of experience in Latin American risks, while Whelan has previous experience at Aviva in Renewable Energy underwriting.

AXIS Capital Holdings Limited (NYSE: AXS) has announced a preliminary fourth-quarter net claims estimate of $195 million to $205 million, pre-tax, primarily due to catastrophes and weather-related events. This includes a significant $125 million estimation for COVID-19 claims, in addition to $235 million recognized earlier this year. Other related losses amount to $70 million to $80 million from events like Hurricanes Zeta and Delta. Despite these challenges, AXIS noted improvements in current accident year loss ratios. The full results will be reviewed on January 28, 2021.

AXIS Capital Holdings Limited (NYSE: AXS) will release its fourth quarter financial results on January 27, 2021, after market close. CEO Albert Benchimol and CFO Peter Vogt will host a teleconference on January 28, 2021, at 9:30 a.m. EST to discuss the results and answer questions. The teleconference can be accessed via phone and will also be available as a live webcast on the company's website. As of September 30, 2020, AXIS Capital reported shareholders' equity of $5.3 billion and has strong ratings from Standard & Poor's and A.M. Best.

AXIS Insurance, part of AXIS Capital (NYSE: AXS), has appointed Angus Lynn as Vice President, Professional Lines Underwriter in Bermuda. Lynn will focus on Commercial and Financial Institutions Professional Lines, including Lawyers Errors and Omissions. His extensive experience in the Bermuda market, including previous roles at XL Bermuda and Endurance Specialty Insurance, positions him to enhance AXIS's underwriting capabilities. This strategic hiring aims to address the evolving professional liability needs in the region, as highlighted by Hillary Williams, Executive VP for Professional Liability – Bermuda.

AXIS Insurance, part of AXIS Capital (NYSE:AXS), announced the recruitment of four senior underwriters to enhance its U.S. Excess and Surplus Property team. Carey Prewitt, Quinn McAleenan, and Bryan Paterson join as Vice Presidents, while Naomi Wiggins takes on the role of Assistant Vice President. Their collective experience aims to strengthen broker relationships and drive business growth. The new hires bring over 60 years of underwriting expertise, positioning AXIS to better address the complex risk needs of clients in the evolving market.

AXIS Capital Holdings Limited (NYSE: AXS) announced the retirement of Board members Christopher V. Greetham and Wilhelm Zeller, effective December 31, 2020. The Chairman, Henry Smith, acknowledged their significant contributions, particularly in guiding the company through transformation. Greetham has been on the Board since 2006, and Zeller since 2009. Since 2018, AXIS has added five new directors, indicating ongoing efforts to refresh leadership.

AXIS Capital has declared a quarterly dividend of $0.42 per common share, reflecting a 2.4% increase. This dividend is payable on January 15, 2021, to shareholders on record as of December 31, 2020. This marks the 17th consecutive year of dividend increases for AXIS Capital since its IPO in 2003. Additionally, a dividend of $34.375 per Series E Preferred Share will also be distributed on the same date to the same group of shareholders.