AXIS Capital Announces Quarterly Dividend and Share Repurchase Program
AXIS Capital Holdings Limited, a prominent global specialty underwriter and provider of insurance and reinsurance solutions, has recently made significant announcements regarding its financial strategy. On February 21, 2025, the company declared a quarterly dividend and unveiled a new share repurchase authorization, reflecting its commitment to returning value to shareholders.
Quarterly Dividend Details
The board of directors at AXIS Capital has declared a quarterly dividend of $0.44 per common share, which is scheduled to be paid on April 17, 2025. Shareholders of record as of March 31, 2025, will be eligible to receive this dividend. In addition, the board approved a dividend of $34.375 per Series E 5.50% preferred share, translating to $0.34375 per depositary share, also payable on April 17 to shareholders recorded by the close of business on March 31.
New Share Repurchase Authorization
In conjunction with the dividend announcement, AXIS Capital’s board has authorized a new share repurchase program, allowing the company to buy back up to $400 million of its common shares. This new authorization replaces the previous program of $300 million, which has been fully utilized. The company has indicated that share repurchases will be conducted on an opportunistic basis, taking into account market conditions, economic factors, corporate performance, and regulatory requirements.
Financial Performance Highlights
AXIS Capital has shown impressive financial growth, reporting shareholders’ equity of $6.1 billion as of December 31, 2024. The company experienced a remarkable surge in net income, reaching $1.1 billion in 2024, a significant increase from $346 million in 2023. Operating income also saw a boost, amounting to $952 million, alongside a notable improvement in the combined ratio. Furthermore, net investment income rose to $196 million, aided by increased fees and a $19 million income tax credit.
Global Operations and Financial Strength
AXIS Capital operates across several key regions, including Bermuda, the United States, Europe, Singapore, and Canada. The company enjoys strong financial strength ratings, holding an "A+" from Standard & Poor’s and an "A" from AM Best, indicating robust financial stability and reliability in the insurance and reinsurance markets.
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Engage with AXIS Capital’s Recent Announcements
AXIS Capital’s recent announcements underscore its strategic focus on enhancing shareholder value through dividends and share repurchase programs. As the company continues to navigate the complexities of the global insurance landscape, its strong financial performance and commitment to returning value to shareholders position it favorably for future growth.
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Conclusion
In summary, AXIS Capital’s recent dividend declaration and share repurchase authorization highlight the company’s strong financial health and commitment to its shareholders. With impressive earnings growth and a solid operational foundation, AXIS Capital is well-positioned for continued success in the insurance and reinsurance markets.