AXIS Capital Holdings Ltd. reported a fourth-quarter net loss of $19 million primarily on losses from Superstorm Sandy.
The Pembroke, Bermuda-based insurer and reinsurer says it suffered significant catastrophe and weather-related losses in the quarter. Sandy accounted for about $331 million in pre-tax losses, net of reinstatement premiums.
The company's fourth quarter net loss to common shareholders was $18.6 million. President and CEO Albert Benchimol declared it “a small loss for the period.”
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