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Axis Capital ( (AXS) ) has provided an announcement.
AXIS Capital announced a loss portfolio transfer reinsurance agreement with Enstar Group, retroceding $2.3 billion of reinsurance segment reserves as part of its strategy to focus on specialty insurance. This transaction, expected to close in the first half of 2025 pending regulatory approval, allows AXIS to align its balance sheet with its strategic priorities, potentially benefiting shareholders with an estimated $60 million gain over several years.
More about Axis Capital
AXIS Capital is a global specialty underwriter offering insurance and reinsurance solutions. With shareholders’ equity of $6.1 billion as of September 30, 2024, the company operates through subsidiaries rated ‘A+’ by Standard & Poor’s and ‘A’ by A.M. Best, with locations in Bermuda, the United States, Europe, Singapore, and Canada.
YTD Price Performance: 68.89%
Average Trading Volume: 533,344
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $7.68B
Find detailed analytics on AXS stock on TipRanks’ Stock Analysis page.
