Profits dip at AXIS despite 'solid quarter' with positive momentum
29-07-2020
AXIS CEO Benchimol says COVID-19 losses overshadowed 'an excellent quarter'
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AXIS Capital outlook downgraded to negative due to COVID-19 impact
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Re/insurer AXIS Capital Holdings is facing more downgrades from international ratings agencies after it reported a first quarter net loss of $185 million, $235 million of COVID-19 related losses and a deteriorating combined ratio. The company, however, is "confident" that the actions it has taken to improve its book of business will help earn back the "superior rating".
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AXIS Capital Holdings, Ratings, AM Best, S&P, Fitch Ratings, Net loss, Q1, Combined ratio, Coronavirus, Insurance, Reinsurance, Bermuda
