Net losses await somewhere between $ 105 million and $ 115 million in pre-tax catastrophes and other weather-related events AXIS Capital Holdings, if the first quarter estimates for the Bermuda-based insurance group are accurate.
After tax, the range forecast for the first quarter will be between $ 95 million and $ 105 million.
AXIS Capital said in a release that estimates of net pre-tax losses for catastrophes and other weather-related events include $ 80- $ 90 million for winter storms Uri and Viola. .. According to insurance companies, this span is in line with industry insurance losses of approximately $ 13 to $ 14 billion.
Meanwhile, AXIS Capital, whose financial results will be announced at the conference call on April 29, reaffirmed that its estimate of net loss for COVID-19 in 2020 remains unchanged.
In addition, the company emphasized continued improvement in loss rates for the current accident year, excluding disaster and weather-related losses in the AXIS Capital insurance and reinsurance segment.
AXIS Capital Releases First Quarter Catastrophe Loss Estimates
Source link AXIS Capital Releases First Quarter Catastrophe Loss Estimates