Axis Capital Holdings Limited and its operating subsidiaries have been rated A+ Insurer Financial Strength (IFS) by Fitch Ratings. The Rating Outlook is Stable.
The insurance company has a history of favorable reserve development, reflecting positively on reserving practices. Over the past two years, the Reinsurance segment reported greater favorable reserve development relative to the Insurance segment. Year-to-date 2014, the reinsurance company reported net favorable reserve development of $193 million, up from the prior year period despite expectations for a reduced benefit.
The company may also be remembered to be rated A+ (Strong) by Deloitte Bermuda Insurance Market Report based on the data by Standard & Poor. According to the review, it also placed 5th in Bermuda's top 10 reinsurers in 2014 with $728 Billion worth of net income, $19, 635 Billion worth of total assets.
PartnerRe, the company which is to merge with Axis Capital Holdings Limited on the second half of the year i...