PEMBROKE, Bermuda--(BUSINESS WIRE)--AXIS Capital Holdings Limited ("AXIS Capital" or "AXIS" or "the Company") (NYSE: AXS) today announced preliminary financial results for the year ended December 31, 2023, and the conclusion of its previously announced review of prior year reserves. AXIS expects to release financial results for the year ended December 31, 2023 on January 31, 2024, after the close of the financial markets, as previously announced. For the year ended December 31, 2023, the Company anticipa ...

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AXIS Capital Holdings Limited (NYSE:AXS) Q3 2023 Earnings Conference Call November 2, 2023 9:30 AM ET Company Participants Miranda Hunter - Head, Investor Relations Vince Tizzio - President & Chief Executive Officer Pete Vogt - Chief Financial Officer Conference Call Participants Yaron Kinar - Jefferies Elyse Greenspan - Wells Fargo Josh Shanker - Bank of America Meyer Shields - KBW Brian Meredith - UBS Operator Hello and welcome to the Third Quarter 2023 AXIS Capital Earnings Call. All participants will b ...

Financial Performance - Net income available to common shareholders for Q3 2023 was $181 million, or $2.12 per common share[245]. - Net income attributable to common shareholders for Q3 2023 was $180.535 million, a significant increase from a loss of $16.947 million in Q3 2022[351]. - Earnings per diluted common share for Q3 2023 was $2.10, a recovery from a loss of $0.20 per share in Q3 2022[351]. - Operating income for the nine months ended September 30, 2023, reached $593.122 million, compared to $331.323 million for the same period in 2022, reflecting an increase of 78.9%[351]. - The annualized return on average common equity for Q3 2023 was 16.1%, a significant improvement from a negative return of 1.7% in Q3 2022[351]. Premiums and Underwriting - Gross premiums written totaled $1.9 billion, with net premiums earned at $1.3 billion[245]. - Gross premiums written increased by 12% to $1,905,878 for the three months ended September 30, 2023, compared to $1,707,808 in 2022[268]. - Net premiums written decreased by 6% to $975,357 for the three months ended September 30, 2023, down from $1,036,784 in 2022[268]. - Underwriting income reached $147 million, resulting in a combined ratio of 92.7%[246]. - The combined ratio improved to 92.7% for the three months ended September 30, 2023, down from 104.3% in 2022[270]. Loss Ratios and Catastrophe Losses - The company reported pre-tax catastrophe and weather-related losses of $42 million, primarily due to the Maui wildfires and Hurricane Idalia[245]. - The current accident year loss ratio, excluding catastrophe and weather-related losses, decreased to 56.3% for the three months ended September 30, 2023, from 57.1% in 2022[270]. - Catastrophe and weather-related losses for the three months ended September 30, 2023, were $37 million, or 4.2 points, compared to $113 million, or 14.1 points, in the same period of 2022[283]. - The current accident year loss ratio decreased to 67.2% for the three months ended September 30, 2023, from 84.5% for the same period in 2022, primarily due to lower catastrophe and weather-related losses of $5 million compared to $99 million in 2022[310]. Investment Income and Expenses - Net investment income surged by 75% to $154,201 for the three months ended September 30, 2023, compared to $88,177 in 2022[268]. - Net investment losses for the three months ended September 30, 2023, were $53 million, a significant reduction from $146 million in 2022, primarily due to net realized losses on U.S. government and corporate debt securities[327]. - The underwriting-related general and administrative expense ratio decreased to 4.2% for the three months ended September 30, 2023, from 4.9% in 2022, mainly due to reduced personnel costs[317]. - Corporate expenses increased by 58% to $40,682 million for the three months ended September 30, 2023, from $25,675 million in 2022[333]. Capital Structure and Debt - The debt to total capital ratio stood at 20.7%, with total debt of $1.3 billion[247]. - The debt to total capital ratio improved to 20.7% from 22.0%, indicating a stronger capital structure[380]. - The company had $86 million of borrowings under the Federal Home Loan Bank program, with interest rates between 5.5% and 5.7%[381]. Shareholder Returns - Cash dividends declared per common share were $0.44 for the three months ended September 30, 2023, compared to $0.43 in 2022[342]. - The average common shareholders' equity increased to $4.477 billion in Q3 2023 from $3.973 billion in Q3 2022, reflecting a growth of 12.6%[351]. - The company repurchased 289,000 common shares for a total cost of $17 million during the nine months ended September 30, 2023[384]. Strategic Initiatives - The company plans to continue focusing on simplifying its operating structure and reducing exposure to volatile catastrophe risks as part of its strategic initiatives[359]. - Reorganization expenses of $29 million were incurred as part of the "How We Work" program, focusing on simplifying the company's operating structure[258]. Foreign Currency Exposure - As of September 30, 2023, total net foreign currency assets were $106 million, primarily driven by exposures to the pound sterling, Australian dollar, Canadian dollar, and other non-core currencies, mainly the Indian rupee[389]. - The pre-tax impact of net foreign currency exposure on shareholders' equity, given a hypothetical 10% rate movement, was estimated at $2.995 million for AUD and $1.418 million for CAD[388]. Regulatory and Compliance - There were no changes in the Company's internal control over financial reporting that materially affected, or are likely to materially affect, the Company's internal control over financial reporting during the three months ended September 30, 2023[392]. - The Company's disclosure controls and procedures were evaluated as effective as of September 30, 2023, ensuring timely and accurate reporting of required information[391].

AXIS Capital Holdings Limited (NYSE:AXS) Q2 2023 Earnings Conference Call August 2, 2023 9:30 AM ET Company Participants Miranda Hunter - Head, Investor Relations Vince Tizzio - President and Chief Executive Officer Pete Vogt - Chief Financial Officer Conference Call Participants Weston Bloomer - UBS Matthew Carletti - JMP Securities Elyse Greenspan - Wells Fargo Operator Good morning and welcome to the Second Quarter 2023 AXIS Capital Earnings Call. All participants will be in a listen-only mode. [Operato ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31721 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or organiza ...

AXIS Capital Holdings Ltd (NYSE:AXS) Q1 2023 Earnings Conference Call April 27, 2023 9:30 AM ET Company Participants Miranda Hunter - Head, IR Albert Benchimol - President, CEO & Director Vincent Tizzio - CEO of Specialty Insurance & Reinsurance Peter Vogt - CFO & EVP Conference Call Participants Matthew Carletti - JMP Securities Yaron Kinar - Jefferies Joshua Shanker - Bank of America Merrill Lynch Brian Meredith - UBS Elyse Greenspan - Wells Fargo Securities Derek Han - KBW Operator Good morning, and welc ...

Financial Performance - Net income attributable to common shareholders for Q1 2023 was $173 million, or $2.03 per common share, with operating income of $200 million, or $2.33 per diluted common share [207]. - The company experienced net investment income of $134 million, a 46% increase compared to the previous year [222]. - Net income available to common shareholders rose to $172.534 million for the three months ended March 31, 2023, compared to $141.637 million in the same period of 2022, marking an increase of approximately 22% [282]. - Operating income for the same period was $200.054 million, up from $179.825 million in 2022, reflecting a growth of about 11% [282]. - Earnings per diluted common share increased to $2.01 in Q1 2023, compared to $1.65 in Q1 2022, representing a growth of approximately 22% [282]. - The annualized return on average common equity improved to 16.2% in Q1 2023, up from 12.0% in Q1 2022 [282]. Premiums and Underwriting - Gross premiums written decreased by 10% to $2.4 billion, while net premiums written fell by 11% to $1.6 billion [222]. - Underwriting income was reported at $139 million, with a combined ratio of 90.9% [207]. - The combined ratio improved to 90.9% in Q1 2023, down from 91.4% in Q1 2022, reflecting better underwriting performance [224]. - The current accident year loss ratio increased to 55.2% in Q1 2023, compared to 54.8% in Q1 2022, influenced by catastrophe and weather-related losses [234]. - Ceded premiums written increased to $533 million, or 38% of gross premiums written, from $483 million, or 36%, in the prior year [230]. - The acquisition cost ratio decreased to 18.0% in Q1 2023 from 18.4% in Q1 2022, primarily due to lower variable acquisition costs [238]. - The underwriting-related general and administrative expense ratio decreased to 14.2% in Q1 2023 from 15.2% in Q1 2022, driven by an increase in net premiums earned [238]. Investment Performance - Total cash and investments amounted to $16.0 billion, with fixed maturities and cash equivalents making up 85% of this total [208]. - Net investment income for the three months ended March 31, 2023, was $133.8 million, a 46% increase from $91.4 million in the same period of 2022 [258]. - Net investment income attributable to fixed maturities increased to $118.3 million, up from $65 million, driven by higher yields [259]. - Net investment losses for the three months ended March 31, 2023, were $20.2 million, compared to $94.5 million in the same period of 2022, reflecting improved performance [264]. - The total return on average cash and investments for the three months ended March 31, 2023, was 2.0%, compared to (2.7%) in 2022 [266]. Capital Structure - Common shares repurchased totaled 262,000 for $16 million, contributing to a common shareholders' equity of $4.4 billion [208]. - The debt to total capital ratio stood at 20.9%, with total assets reported at $28.6 billion [208]. - The debt to total capital ratio improved to 20.9% from 22.0%, indicating a stronger capital structure [311]. - Corporate expenses increased by 10% to $26.4 million for the three months ended March 31, 2023, compared to $23.9 million in 2022 [267]. Foreign Currency Exposure - Total net foreign currency exposure was $(67.97) million, with a pre-tax impact of net foreign currency exposure on shareholders' equity estimated at $(6.80) million given a hypothetical 10% rate movement [320]. - As of March 31, 2023, total net foreign currency liabilities amounted to $68 million, primarily influenced by exposures to the Japanese yen, pound sterling, Australian dollar, and other non-core currencies [321]. - The net foreign currency exposure as a percentage of total shareholders' equity was reported at (1.4%) as of March 31, 2023 [320]. - The foreign currency derivatives net exposure was $280,439 thousand, indicating a significant hedge against currency fluctuations [320]. Dividends and Shareholder Returns - Cash dividends declared per common share increased to $0.44 from $0.43 [274]. - The company declared dividends for the 19th consecutive year, reflecting a commitment to returning excess capital to shareholders [279].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 AXIS CAPITAL HOLDINGS LIMITED (Exact name of registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation or organization) 98-0395986 (I.R.S. Employer Identification No.) 9 ...

AXIS Capital Holdings Limited (NYSE:AXS) Q4 2022 Earnings Conference Call January 26, 2023 9:30 AM ET Company Participants Miranda Hunter - Head of Investor Relations Albert Benchimol - President & Chief Executive Officer Pete Vogt - Chief Financial Officer Vince Tizzio - Chief Executive Officer, Specialty Insurance & Reinsurance Conference Call Participants Brian Meredith - UBS Yaron Kinar - Jefferies Elyse Greenspan - Wells Fargo Meyer Shields - KBW Josh Shanker - Bank of America Matt Carletti - JMP Opera ...