PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Wednesday reported first-quarter profit of $194.1 million.
The Pembroke, Bermuda-based company said it had profit of $2.26 per share. Earnings, adjusted for non-recurring costs, came to $3.17 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The insurance company posted revenue of $1.52 billion in the period. Its adjusted revenue was $1.55 billion.
Axis Capital shares have risen roughly 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $96.32, a climb of 57% in the last 12 months.
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