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AXIS returns to profit in Q3 despite reinsurance underwriting loss

October 28, 2021

Bermuda-based AXIS Capital Holdings Limited has reported net income of $47 million for the third quarter of 2021, despite its re/insurance operations falling to an underwriting loss in the period.

AXIS has returned to profit in both the third quarter and first nine months of 2021, when compared with a net loss of $73 million and $146 million, respectively, for the same periods in 2020.

For Q3 2021, operating income totalled $1 million compared with a loss of $65 million a year earlier. AXIS’ 9M 2021 operating income improved from a loss of $158 million in 2020 to a gain of $254 million.

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