Axis Capital (AXS) Sees Q4 Catastrophe and Weather-Related Losses of $130 Million
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AXIS Capital Provides Estimated Net Financial Impact of Fourth Quarter 2017 Catastrophe LossesAnd Provides an Initial Assessment of the Impact of U.S. Tax Reform
January 17, 2018 8:30 AM ESTPEMBROKE, Bermuda--(BUSINESS WIRE)-- AXIS Capital Holdings Limited (AXIS Capital or the Company) (NYSE: AXS) today announced that its preliminary estimate of the total net financial impact from fourth quarter 2017 catastrophe and weather-related losses is $130 million, net of tax and estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums.
This estimate updates the $35 million to $45 million initial range to $54 million related to the October 2017 Northern California wildfires previously disclosed by the Company in its Quarterly Report on Form 10-Q for the 2017 third quarter and includes a preliminary estimate of $38 million related to the... More
