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AXIS posts profit in first year of business

Michael Bradford

February 14, 2003 Reprints

European Union P/C Insurers Asia-Pacific & Australasia Bermuda Canada China Latin America United Kingdom More + Less -

PEMBROKE, Bermuda--AXIS Capital Holdings Ltd. earned $265.1 million in 2002, its first full year of operation.

The Pembroke, Bermuda-based insurer and reinsurer, formed near the end of 2001, wrote gross premiums of $1.1 billion during 2002. Of that, $793.8 million was from specialty lines and $314.2 million was from treaty reinsurance.

"We are delighted that AXIS has acheived so much in such a short period of time," John Charman, president and chief executive officer of AXIS, said in a statement.

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AXIS posts profit in first year of business

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