Axis Capital Holders Limited - AXS STOCK NEWS

AXIS Capital has declared a quarterly dividend of $0.43 per common share, payable on October 18, 2022, to shareholders of record by October 3, 2022. Additionally, a dividend of $34.375 per Series E 5.50% preferred share will also be payable on the same date. As of June 30, 2022, AXIS Capital reported shareholders' equity of $4.7 billion. The company maintains strong financial ratings with an 'A+' from Standard & Poor's and an 'A' from A.M. Best.

AXIS Capital Holdings Limited (NYSE: AXS) announced the launch of AXIS Wholesale, a dedicated division for the wholesale market, led by Carlton Maner as CEO. This initiative aims to enhance customer service and product offerings tailored to the wholesale channel. The division will integrate existing business units including E&S Property, Primary Casualty, and Financial Institutions. With a shareholders' equity of $4.7 billion as of June 30, 2022, AXIS plans to strengthen its position in the specialty insurance sector while delivering improved services.

AXIS Capital announced the launch of its new insurance policy, the AXIS Cyber Technology and Miscellaneous Professional Liability (ACTM). This policy offers custom coverage for companies with revenues up to $2bn. ACTM combines various coverages, including Cyber, Technology Errors and Omissions, and Miscellaneous Professional Liability. It aims to assist small and mid-sized businesses across the US in addressing potential insurance gaps. The policy is designed to enhance clarity and certainty in coverage, thereby improving customer service.

AXIS Capital Holdings Limited (NYSE:AXS) has appointed Dan Draper as Group Chief Underwriting Officer, previously serving as Group Head of Underwriting. Draper will lead the centralization of underwriting analytics and enhance portfolio strategies. President and CEO Albert Benchimol expressed confidence in Draper’s leadership to drive improvements in portfolio quality and underwriting performance. This move aligns with AXIS's strategy to strengthen its position in specialty underwriting and deliver greater value to customers and shareholders.

The Board of Directors of MVB Financial Corp. has appointed W. Marston Becker as the new Chairman, succeeding David B. Alvarez, who is retiring. Mr. Becker joined the Board in November 2020 and has extensive experience in the insurance sector, having held leadership roles in various organizations, including QBE Insurance Group and Alterra Capital Holdings. CEO Larry Mazza highlighted Mr. Becker's valuable experience as MVB implements its strategic plan. Mr. Becker's leadership is anticipated to bolster MVB's growth trajectory.

AXIS Capital (AXS) reported second-quarter 2022 financial results, highlighting a current accident year combined ratio of 93.4% and operating ROE of 13.7%. Net income available to common shareholders was $27 million, down from $228 million year-over-year. The company saw gross premiums written grow by 9% to $2.1 billion, with a significant 16% increase in the insurance segment. However, net income per diluted share decreased to $0.32 from $2.67 in the same quarter of 2021. AXIS announced its exit from property reinsurance, aiming for a more focused and profitable specialty underwriting position.

AXIS Capital Holdings Limited (NYSE: AXS) will release its financial results for the second quarter ended June 30, 2022, on July 26, 2022, post-market close. An investor teleconference is scheduled for July 27, 2022, at 9:30 a.m. EDT, to discuss the results. Shareholders can participate by calling designated numbers or via a live webcast on the company’s website. As of March 31, 2022, AXIS Capital reported shareholders' equity of $5.1 billion and maintains strong ratings with 'A+' from Standard & Poor's and 'A' from A.M. Best.

AXIS Capital Holdings Limited (NYSE: AXS) has published its 2021 Loss Development Triangles, detailing paid, incurred, and ultimate losses across 11 reserving classes within its Insurance and Reinsurance segments. The data is effective as of December 31, 2021, and is accessible on the Company’s website. As of March 31, 2022, AXIS Capital reported shareholders' equity of $5.1 billion. The Company operates globally, offering specialty insurance and treaty reinsurance with ratings of 'A+' from Standard & Poor's and 'A' from A.M. Best.

AXIS Capital Holdings Limited (NYSE: AXS) has announced strategic changes to enhance its specialty underwriting capabilities. Key initiatives include appointing Vince Tizzio as CEO of Specialty Insurance and Reinsurance, expanding digital solutions for small-to-mid-sized enterprises, and focusing AXIS Re on casualty and specialty lines while exiting property reinsurance to reduce catastrophe risk exposure. The company aims to streamline operations with a new global Chief Underwriting Officer overseeing analytics. These changes are expected to create more value for customers and shareholders.