Axis Capital unveils $400m share repurchase plan

Bermuda-based specialty re/insurer Axis Capital has launched a refreshed $400m share buyback programme, reinforcing its capital position and commitment to delivering value to shareholders.

AXIS Capital's board of directors approved a new share repurchase programme, authorising the company to purchase up to an aggregate $400 million of the company’s common shares. 

This new share repurchase programme replaces the previous $400 million programme which had been exhausted.

The new share repurchase programme is open-ended, allowing the company to repurchase its shares from time to time in the open market or in privately negotiated transactions. 

AXIS Capital reported that it will consider share repurchases on an opportunistic basis. The timing and amount of the repurchases will depend on a variety of factors, including market, economic, corporate and regulatory conditions.

The move highlights the reinsurer’s continued emphasis on disciplined capital management amid favourable conditions in the global re/insurance market.

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