Filed Under:Markets, Reinsurance

Axis Capital, Montpelier Re See Improved Q3 Profitability

Two Bermuda (re)insurers report positive movement in profitability for the 2012 third quarter, with Axis Capital’s net income inching up and Montpelier Re reversing a 2011 third-quarter net loss.

Pembroke, Bermuda-based Axis Capital says 2012 third-quarter net income was $223 million, compared to $212 million a year ago. Underwriting income was up in both its insurance ($76 million compared to $41 million) and reinsurance ($79 million compared to $50 million) segments.

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