Axis Capital: Q1 Earnings Snapshot

PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Wednesday reported first-quarter net income of $395.5 million.

The Pembroke, Bermuda-based company said it had net income of $4.53 per share. Earnings, adjusted for non-recurring gains, came to $2.57 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.

The insurance company posted revenue of $1.42 billion in the period. Its adjusted revenue was $1.43 billion.

Axis Capital shares have risen 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $61.94, a climb of roughly 9% in the last 12 months.


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