15 April 2021News

Uri and Viola take their toll as AXIS makes preliminary Q1 loss estimate

AXIS Capital Holdings has estimated that it made a first quarter pre tax net loss of between $105 million and $115 million related to catastrophes and other weather-related events.

The loss included between $80 million and $90 million for winter storms Uri and Viola, principally related to the state of Texas. It is consistent with industry insured losses of approximately $13 billion to $14 billion.

AXIS also reaffirmed no change to its net loss estimate established for the COVID-19 pandemic in 2020.

It also reported continued improvements in its current accident year loss ratios, excluding catastrophe and weather-related losses, for its re/insurance segments, consistent with the progress observed in 2020.




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28 July 2021   Benchimol expects pricing to remain at or above loss cost trends well into 2022 and likely beyond.

More on this story

News
28 July 2021   Benchimol expects pricing to remain at or above loss cost trends well into 2022 and likely beyond.