Bermuda peers AXIS Capital Holdings and Everest Re Group have published their respective financial results for the quarter ended March 31.
Here’s how the two insurance groups performed in the first three months of 2021:
|
Metric/company |
AXIS Capital |
Everest |
|
Gross written premium – insurance |
US$1.1 billion |
US$872 million |
|
GWP – reinsurance |
US$1.4 billion |
US$2.1 billion |
|
Operating income |
US$83 million |
US$260 million |
|
Net income |
US$116 million |
US$342 million |
“With market conditions favourable across virtually all of our lines of business, our performance is seeing positive momentum as the global economy continues to recover,” said AXIS Capital president and chief executive Albert Benchimol.
“We have a strong franchise, deep relationships with our brokers and partners in distribution, and leadership positions across our most attractive markets. We believe AXIS is poised to continue to demonstrate meaningful improvements to our performance in 2021 and beyond.”
Similarly pleased is Everest president and CEO Juan C. Andrade, who cited his camp’s “strong start” to the year and pointed to robust growth, strong overall profitability, continued improvement in attritional underwriting margins, and what was described as excellent investment performance.
Andrade commented: “Our first quarter results further illustrate the earnings power of Everest and our success in implementing our strategy to build a broadly diversified company with a relentless focus on strong operational performance and disciplined underwriting.”
