Net written premiums increased 10% year over year. Total revenues increased 7% from the year-ago quarter to about $9 billion and beat the Zacks Consensus Estimate of $8.7 billion.
GROSS BEAT TUTORIAL FREE
The Travelers Companies’ ( TRV Quick Quote TRV - Free Report) bottom line beat the Zacks Consensus Estimate for the fourth quarter of 2021 and increased 6% year over year.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks RankĪXIS Capital currently carries a Zacks Rank #2 (Buy). Over the past year, total dividends declared amounted to $1.69 per share. The company announced a dividend of 43 cents per share in the reported quarter, which represents an increase of 2.4% and is the 18th consecutive year the insurer has increased dividends since its initial public offering in 2003.
Operating return on equity totaled 15.1% in the fourth quarter against (1.4%) in the year-ago period. It was partially offset by a decrease in net unrealized gains reported in other comprehensive income and common share dividends declared. The increase was driven by net income generated. Financial UpdateĪXIS Capital exited 2021 with cash and cash equivalents of $844.6 million, down 6.4% over the level at 2020 end.ĭebts were $1.3 billion at 2021 end, up 0.09% from 2020-end level.īook value per share increased 1.2% year over year to $55.78 as of Dec 31, 2021. The combined ratio improved 1150 bps year over year to 90.8%. Underwriting income was $54.3 million against the year-ago quarter’s loss of $14.8 million. Net premiums earned increased 3.6% year over year to $515.4 million. Reinsurance: Gross premiums written in the fourth quarter increased 1.5% year over year to $247.8 million, primarily attributable to increases in motor and agriculture lines due to new business. The combined ratio improved 2260 bps to 88.7%. Underwriting income totaled $81.6 million in contrast to the year-ago quarter’s loss of $66 million. Net premiums earned rose 22.5% year over year to $722.4 million.
GROSS BEAT TUTORIAL PROFESSIONAL
Insurance: Gross premiums written improved 19.1% year over year to $1.3 billion, primarily attributable to increases in professional lines, liability, property, and marine lines driven by new business and favorable rate changes. The combined ratio improved 1650 basis points (bps) to 93.1%. Total expenses in the quarter under review decreased 8.8% year over year to $1.2 billion, attributable to lower net losses and loss expenses, foreign exchange losses and amortization of value of business acquired.ĪXIS Capital incurred an underwriting loss of $136 million compared with the prior-year quarter’s loss of $80.8 million. Net investment income increased 17% year over year to nearly $128 million, primarily due to positive returns from other investments in 2021. Gross premiums written increased 16% year over year to about $1.6 billion, largely driven by a 19% increase in the Insurance segment and a 1% increase in the Reinsurance segment. The top line also rose 15% year over year on higher net premiums earned and net investment income. Total operating revenues of $1.4 billion outpaced the Zacks Consensus Estimate by 11.2%. Total operating revenues of $5.18 billion beat the consensus mark of 5.12 billion and also increased 10.1% year over year. Moreover, the bottom line improved from the year-ago quarter’s operating loss of $2.08 per share. In 2021, AXIS Capital delivered an operating income of $5.12 per share, beating the Zacks Consensus Estimate of $4.34 per share. Axis Capital Holdings Limited Price, Consensus and EPS SurpriseĪxis Capital Holdings Limited price-consensus-eps-surprise-chart | Axis Capital Holdings Limited Quote Full-Year Highlights
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