Axis Capital (AXS) Reports Q3 EPS of $1.07
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AXIS Capital Reports Third Quarter Net Income of $43 Million, or $0.52 Per Diluted Common Share; Operating Income of $81 Million, or $0.96 Per Diluted Common Share; Ex-PGAAP Operating Income of $90 Mi
October 24, 2018 4:15 PM EDTFor the third quarter of 2018, the Company reports:
Return on average common equity of 3.9% and ex-PGAAP operating return on average common equity ("ex-PGAAP operating ROACE") of 8.0% Estimated pre-tax catastrophe and weather-related losses, net of reinsurance and reinstatement premiums, of $92 million, or 7.5 points, compared to $617 million, or 61.4 points, in the prior year Pre-tax cost savings of $17 million, $68 million on an annualized basis, related to transformation and integration initiatives and on track to deliver $100 million of savings by year-end 2020PEMBROKE,... More
