Global specialty underwriter and provider of insurance and reinsurance solutions AXIS Capital Holdings Limited has declared a quarterly dividend and announced a new share repurchase authorization, the company revealed in a statement on Wednesday.
The board of directors declared a quarterly dividend of $0.44 per common share, payable on April 17, 2025, to shareholders of record as of March 31, 2025. Additionally, the board approved a dividend of $34.375 per Series E 5.50% preferred share, equivalent to $0.34375 per depositary share, also payable on April 17 to shareholders of record at the close of business on March 31.
Alongside the dividend declarations, AXIS Capital also announced that its board of directors approved a new share repurchase program, authorizing the company to buy back up to $400 million of its common shares. This replaces the previous $300 million program, which had been fully utilized. The company stated that repurchases would be made on an opportunistic basis, depending on market, economic, corporate, and regulatory conditions.
AXIS Capital reported shareholders’ equity of $6.1 billion as of December 31.
The company reported a net income surge to $1.1 billion in 2024, up from $346 million in 2023. Operating income reached $952 million, with a combined ratio improvement. Net investment income rose to $196 million. The company also benefited from increased fees and a $19 million income tax credit.
The company operates in Bermuda, the United States, Europe, Singapore, and Canada, and holds strong financial strength ratings of “A+” from Standard & Poor’s and “A” from AM Best.
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