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Axis Capital Holdings yesterday reported net income of $248 million for the third quarter — down $31 million on the same quarter last year. The figure represents net income available to shareholders of $2.50 a share, compared to the $279 million and ...

Bermuda-based Axis Capital Holdings Ltd is to cut “a small number” of jobs at its Bermuda office as part of a global streamlining. But Albert Benchimol, the company’s chief executive officer, stressed yesterday that the insurer and reinsurer remains ...

Bermuda-based Axis Capital Holdings Ltd plans to cut 100 jobs from its global workforce — including a small number in Bermuda. The streamlining announced this morning by the insurer and reinsurer includes the closure of its Australian retail insuranc...

Reinsurance firm Axis Re has awarded speciality reinsurer of the year by a UK-based business magazine. The Hamilton company was given the award by Reactions at its North American awards dinner held in New York. Axis Re CEO Jay Nichols said: “This dis...

NEW YORK (Reuters) — Bermuda-based insurers may be among the bidders as US bank Wells Fargo & Co prepares to divest its crop insurance business, one of the biggest in the US. According to sources with knowledge of the matter, the bank has launched an...

Axis Capital failed in its bid to merge with rival PartnerRe after Italian investment firm Exor won a bidding war — but the firm is $315 million better off as a result of a massive break fee. The firm accepted defeat after PartnerRe’s board yesterday...

Two more proxy advisory firms have recommended PartnerRe shareholders to vote against a merger with Axis Capital. Proxy Mosaic said that a rival all-cash $6.8 billion bid by Italian investment firm Exor for PartnerRe “outweighs the potential upside i...

Axis yesterday reported profits of $94 million for the second quarter of the year. Chief executive officer Albert Benchimol said book value, adjusted for dividends, grew 7 per cent over the last year. Mr Benchimol added: “Notwithstanding a more chall...

A leading shareholder advisory firm has advised PartnerRe shareholders to vote against an $11 billion merger with rival Axis. And Independent Shareholder Services (ISS) backed the rival $6.8 billion plus proposal from Italian investment firm Exor aft...

A second investment advisory firm has backed a bid by Italian company Exor for Bermuda-based reinsurer PartnerRe. Glass Lewis advised shareholders in PartnerRe to reject the rival merger proposal from Axis Capital as the all-cash Exor offer is superi...

Axis and PartnerRe have boosted the special dividend for PartnerRe’s common shareholders to $17.50 if they back a merger deal. And the two firms also pledged to match an offer to preferred shareholders by Italian investment firm Exor, who have launch...