AXIS Capital outlines financials forecast
AXIS Capital outlines financials forecast | Insurance Business New Zealand
Insurance News
AXIS Capital outlines financials forecast
“We believe the company is on a clear trajectory,” says CEO and president
Insurance News
By
Terry Gangcuangco
AXIS Capital Holdings, which is releasing its full-year financial results for 2023 on January 31, has published the insurance group’s forecast.
In a release, AXIS announced the following preliminary figures for the year ended December 31, 2023:
Metric
Preliminary result for 2023
Result for 2022
Net income available to common shareholders
US$346 million
US$193 million
Operating income
US$486 million
US$498 million
According to AXIS, it also expects to report an increase in gross written premium for the full year.
“AXIS delivered strong underlying performance in 2023, and we believe the company is on a clear trajectory to becoming a specialty underwriting leader,” president and chief executive Vince Tizzio noted.
“This was a year where we drove consistent premium growth with double-digit increases across the vast majority of our specialty insurance lines, and continued to cultivate a diversified and resilient portfolio, further improved and streamlined our operating model, and grew the tailored products and capabilities that we provide to our customers.”
He also highlighted the firm’s “well-positioned” portfolio and strong capital position.
“We approach the future with confidence, and our team is relentlessly committed to achieving our specialty leadership ambition,” added Tizzio, who assumed his current roles in May 2023.
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