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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS | $3.67 | ||
Q4 Net Income | $282 mln | ||
Q4 Adjusted Combined Ratio | 90.40% | ||
Q4 Combined Ratio | 90.40% | ||
Q4 Expense Ratio | 13.90% | ||
Q4 Operating income | $250 mln |
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.)