Axis UW income flat at $139mn in Q1 as pre-tax cat losses fall 37% to $38mn

Axis Capital’s first quarter underwriting income remained flat at $139mn - despite a nearly 10 percent improvement in its insurance underwriting gain - as its exit from property reinsurance trimmed that unit’s underwriting gain by 19 percent and rising loss costs led to an increase in the firm’s consolidated underlying loss ratio.


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