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.
