PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Tuesday reported second-quarter earnings of $150.7 million.
The Pembroke, Bermuda-based company said it had net income of $1.67 per share. Earnings, adjusted for non-recurring costs, were $2.23 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The insurance company posted revenue of $1.38 billion in the period. Its adjusted revenue was $1.41 billion.
Axis Capital shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $55.13, an increase of 13% in the last 12 months.
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