PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Wednesday reported third-quarter earnings of $180.7 million.
The Pembroke, Bermuda-based company said it had net income of $2.04 per share. Earnings, adjusted for one-time gains and costs, were $2.71 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.
The insurance company posted revenue of $1.61 billion in the period. Its adjusted revenue was $1.58 billion.
Axis Capital shares have risen 46% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $80.83, a climb of 44% in the last 12 months.