Axis UW gain dips 8% to $135mn as cat losses nearly double, core LR improves 60bps

Published: Thu 31 Oct 2024

Axis Capital’s underwriting gain dipped by 8 percent to $135mn in the third quarter, driven by catastrophe losses that nearly doubled to $78mn from a year ago, but its overall core loss ratio improved by 60 basis points (bps) to 55.7 percent.