PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Wednesday reported fourth-quarter earnings of $289.6 million.
The Pembroke, Bermuda-based company said it had profit of $3.67 per share. Earnings, adjusted for investment gains, came to $3.25 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.97 per share.
The insurance company posted revenue of $1.73 billion in the period. Its adjusted revenue was $1.72 billion.
For the year, the company reported profit of $1.01 billion, or $12.35 per share. Revenue was reported as $6.5 billion.
Axis Capital shares have declined 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.78, an increase of 15% in the last 12 months.
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