Axis trims Q3 underwriting loss as GWP grows by 24%, core loss ratio shrinks

James Thaler

27 October 2021

Axis Capital net catastrophe losses hit $250mn in Q3, comprising $145mn for reinsurance and $105mn for insurance, adding 20.7 points to the current accident-year loss ratio of 76.1% and primarily attributable to Hurricane Ida, the Storm Bernd flood and other weather-related events. 

It compared to cat losses adding 22.2% points to a ratio of 80.7% in Q3 2020. 

Catastrophe GWP rose by 18% to $88mn, attributable to reinstatement premiums associated with the significant catastrophe losses.

Axis

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