AXIS Advances Transition to Specialty Underwriter, Announces Loss Portfolio Transfer Reinsurance Agreement With Enstar on Reinsurance Segment Reserves
Axis Capital Holdings Limited (AXS)
Last axis capital holdings limited earnings: 1/29 04:15 pm
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Source: Business Wire
PEMBROKE, Bermuda--(BUSINESS WIRE)--AXIS Capital Holdings Limited (“AXIS Capital” or “AXIS” or “the Company”) (NYSE: AXS) and Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that they have entered into a loss portfolio transfer (“LPT”) reinsurance agreement covering a portfolio of reinsurance segment business. The closing of the transaction is subject to regulatory approvals and other customary conditions, and is expected to occur during the first half of 2025.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241216042669/en/Under the LPT reinsurance agreement, which is structured as a 75% ground-up quota share, AXIS will retrocede to Enstar $2.3 billion of reinsurance segment reserves. This transaction is predominantly attributable to casualty portfolios related to 2021 and prior underwriting years totaling $3.1 billion at September 30th. AXIS expects to recognize an approximate $60 million benefit from the
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News
- AXIS Advances Transition to Specialty Underwriter, Announces Loss Portfolio Transfer Reinsurance Agreement With Enstar on Reinsurance Segment Reserves [Yahoo! Finance]Yahoo! Finance
- Why Axis Capital (AXS) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- AXIS President and CEO Vince Tizzio and CFO Pete Vogt to Speak at the 2024 UBS Global Specialty Insurance/Reinsurance Virtual Conference [Yahoo! Finance]Yahoo! Finance
- AXIS President and CEO Vince Tizzio and CFO Pete Vogt to Speak at the 2024 UBS Global Specialty Insurance/Reinsurance Virtual ConferenceBusiness Wire
- AXIS Capital Holdings Limited (NYSE: AXS) was upgraded by analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating. They now have a $89.00 price target on the stock, up previously from $78.00.MarketBeat
AXS
Earnings
- 10/30/24 - Beat
AXS
Sec Filings
- 12/16/24 - Form 8-K
- 11/14/24 - Form SC
- 11/12/24 - Form 8-K
- AXS's page on the SEC website