S&P alters AXIS outlook to stable

S&P said it altered its outlook for AXIS Capital Holdings Ltd. to stable from negative and affirmed its A- issuer rating.

“The outlook revision reflects AXIS' improving underwriting performance in 2021, and the first quarter of 2022, which was in line with our expectations. In addition, the company's decision to exit property and property catastrophe reinsurance lines should reduce volatility in its prospective earnings. We now expect AXIS to generate a combined ratio, including corporate expenses, of 92%-95% in 2022-2024, with a catastrophe load of 3%-4% and return on shareholders' equity in the low-teens,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.