Overview

• Bermuda-based insurance firm's Q4 underwriting income rose 42% yr/yr

• Company's Q4 combined ratio improved to 90.4%

• Company returned $1 bln to shareholders through repurchases and dividends

Outlook

• Company did not provide specific guidance for future quarters or years

Result Drivers

• INSURANCE PREMIUM GROWTH - Gross premiums in the insurance segment increased by 12%, contributing to improved underwriting results

• LOWER CATASTROPHE LOSSES - Reduced catastrophe and weather-related losses helped improve the combined ratio

• REINSURANCE SEGMENT GROWTH - Reinsurance segment saw a 13% increase in gross premiums, driven by new business in motor and credit lines

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

• Wall Street's median 12-month price target for AXIS Capital Holdings Ltd is $124.00, about 21% above its January 27 closing price of $102.51

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nGNEbTlQjL

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)