AXIS Capital reports preliminary 2023 net income $346M; strengthens reserves by $425M

AXIS CAPITAL HOLDINGS LTD

2023-FY EPS reported $4.02 revenue$5,643,388,000

Net income available to common shareholders $346M ($4.02 diluted EPS); operating income $486M ($5.65 diluted EPS).
Current accident year combined ratio improved to 91.8% from 96.3% prior year.
Book value per diluted share $54.06, up 15.1% over 12 months.
Strengthened prior year reserves by $425M pre-tax ($361M post-tax) in Q4, mainly liability and professional lines for 2019 and older years.
Gross premiums written increased $142M (+2%) driven by specialty insurance lines.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AXIS CAPITAL HOLDINGS LTD reported the year ended December 31, 2023 results: revenue $142 million, or 2%, increase in gross premiums written, net income $346 million, or $4.02 per diluted common share, EPS $4.02 per diluted common share (net income) and $5.65 per diluted common share (operating income).

Period: the year ended December 31, 2023
Revenue: $142 million, or 2%, increase in gross premiums written
Net income: $346 million, or $4.02 per diluted common share
EPS: $4.02 per diluted common share (net income) and $5.65 per diluted common share (operating income)
Result: preliminary results

Exact text from the filing

shareholders of $346 million, or $4.02 per diluted common share and operating income of $486 million, or $5.65 per diluted common share, an increase in gross premiums written of $142 million, or 2%, current accident year combined ratio of 91.8%, compared to 96.3% for the prior year, and book value per diluted common share of $54.06, an increase of 15.1% over the past

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Source: SEC EDGAR

accession 0001214816-24-000009

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