AXIS Capital makes changes to P/C team
Bermuda-based AXIS Capital Holdings has stated that it will publish the company's 2016 loss development triangles after the financial markets close on June 14, 2017.
Loss development triangles are a methodology that was developed by the actuarial profession to track how claims, both known and unknown, change over time.
AXIS Capital said that the data will be presented as of December 31, 2016 on an accident-year basis and will include paid, incurred and ultimate losses on a net and gross basis. Development triangles for paid, incurred and ultimate losses will be provided on a net of reinsurance basis, rather than on the gross basis used in corresponding prior year publications, allowing for a more direct reconciliation between the triangles and the Company's published net financial information.
A copy of this document will be available in the Investor Relations section of the company's website.
The company added that the information for the development triangles will be provided for 11 reserving classes of business that fall under the company's two reportable segments, Insurance and Reinsurance.
AXIS Capital Holdings, Loss development triangles, Bermuda