S&P lifts AXIS view to stable

S&P said it revised the outlook to stable from negative and affirmed its A- long-term issuer credit and senior debt ratings on AXIS Capital Holdings Ltd.

The agency also said it affirmed the A+ long-term issuer credit and financial strength ratings on the company's core operating subsidiaries.

The outlook revision reflect a belief that the company's capital management and implementation of its various strategic initiatives are bearing fruit and will help rebuild the company's capital adequacy redundancy at the AAA confidence level by year-end 2019, S&P explained.

The agency said it views the company's business risk profile as strong, supported by a strong competitive position, broad product offering, diverse geographic footprint and a focus on specialty coverage.

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