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Axis expects fourth quarter cat losses of $130 million


Bermuda-based insurer and reinsurer Axis Capital Holdings Ltd. recorded an estimated $130 million in net losses related to catastrophe and weather-related events in the fourth quarter of 2017, Bernews reported. The losses are net of tax and estimated recoveries from reinsurance and retrocessional covers and include the impact of estimated reinstatement premiums. The losses include a preliminary estimate of $38 million related to the recent wildfires in Southern California and $38 million related to other events.

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