Bermuda-based AXIS Capital announced the release of a revised financial supplement for the quarter and year ended December 31, 2006, which “reflects modifications to reporting of its Insurance segment as a result of its recently announced reorganization.”
AXIS said the “revised supplement has been prepared to facilitate comparable analyses amongst periods and is available on the Company’s web site at: www.axiscapital.com. ”
The revision accompanies AXIS announcement In January of a “strategic reorganization of the AXIS Insurance segment to further strengthen the global operations of the segment. This reorganization reflects the management of AXIS Insurance along global product lines rather than by geographical location.
“As a result of the reorganization, the Company’s Insurance segment reporting has been modified effective January 1, 2007. The data presented in the revised supplement released today has been updated to reflect the AXIS Insurance reorganization. The Company will continue to report overall results based on its two operating segments: Insurance and Reinsurance.
“All modifications to the financial supplement relate solely to the presentation of Insurance segment specific disclosures and have no effect on AXIS Capital’s previously reported results of operations, financial condition or cash flows.”
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