Record Operating Earnings
AXIS Capital reported record operating earnings per share of $11.18, a 98% increase over the prior year and 75% higher than the previous best in 2007.
Strong Financial Metrics
Operating return on equity was 18.6%, with a year-end book value of $65.27, representing a 20.7% growth compared to the prior year.
Insurance Segment Performance
The Insurance business performed well with a combined ratio of 89.1% and generated $6.6 billion in premium, up 7.7% over the prior year.
Reinsurance Segment Growth
Reinsurance produced a combined ratio of 91.8% and generated $2.4 billion in premiums, growing nearly 8% driven by a 16% increase in targeted short-tail specialty lines.
Record Net Investment Income
Net investment income was a record $759 million for the year, up 24% from the prior year.