AXIS Capital Holdings Ltd. announced a preliminary pre-tax net loss estimate in the range of $225 million to $255 million ($190 million to $220 million, after-tax) for third quarter catastrophes and other events.
This net loss estimate relates to Hurricanes Laura and Sally, the derecho in the U.S. Midwest, wildfires across the West Coast of the United States, the Beirut explosion and regional weather events in the United States. The estimated loss is attributable to the company’s insurance and reinsurance segments.
AXIS Capital reported accelerating improvements in pricing across most insurance lines of business. In addition, AXIS Capital noted improving trends in current accident year loss ratios, excluding catastrophe and weather-related losses for its insurance and reinsurance businesses consistent with progress observed in the first half of 2020.
Source: AXIS Capital
Topics USA Catastrophe Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Florida Surplus Lines’ HO Premiums Now Average About the Same as Admitted Market 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
Billionaire Boehly’s Allies Donated Heavily to Kansas Insurance Regulator 
Brown & Brown Wins Temporary Injunction Against Howden 
