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AXS - AXIS Adds $125m Of COVID Losses Up To $80m Cat Losses From Q4
Axis Capital Holdings Limited
The fresh COVID-19 losses takes AXIS Capital’s total for the pandemic to $360 million reported so far.
AXIS Capital had already recognised $235 million of pandemic losses in the first quarter of 2020.
In total, AXIS expects a dent to fourth-quarter 2020 earnings of between $195 million to $205 million, net and pre-tax, from the pandemic and catastrophe events.