AXIS Capital announces Q1 2024 resutls

Authored by AXIS

AXIS Capital Holdings Limited has announced financial results for the first quarter ended March 31, 2024.

Commenting on the first quarter 2024 financial results, Vince Tizzio, President and CEO of AXIS Capital said:

“The results of the first quarter once again evidence that AXIS is elevating its financial performance, producing consistent returns and strong metrics. Reflecting the increased resiliency and consistency of our portfolio, AXIS delivered 18.2% annualized operating ROE and a combined ratio of 91.1%. We continued to capitalize on generally favorable market conditions, growing gross premiums written by 11% over the prior year period.

“Our specialty insurance business continues to perform very strongly, achieving a combined ratio of 86.6% and record first quarter premium production of $1.6 billion, fueled by double digit premium growth across both our North America and London-based Global Markets divisions. During the quarter, both our insurance and reinsurance businesses leaned into our targeted markets while exhibiting strong cycle management and underwriting discipline.

“We also further invested in our global underwriting platform, tapping into new revenue channels including expanding our specialty product set in North America while launching the first-ever dedicated Global Energy Transition syndicate at Lloyd’s. In addition, we continued to strengthen our operational capabilities through our ‘How We Work’ program to build a more efficient, connected, and data-driven AXIS.”

To view the first quarter 2024 results for AXIS CLICK HERE