PEMBROKE, Bermuda (AP) _ Axis Capital Holdings Ltd. (AXS) on Tuesday reported second-quarter profit of $177 million.
On a per-share basis, the Pembroke, Bermuda-based company said it had net income of $1.97. Earnings, adjusted for non-recurring gains, were $1.62 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The insurance company posted revenue of $1.29 billion in the period. Its adjusted revenue was $1.26 billion.
Axis Capital shares have climbed 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.32, an increase of slightly more than 8% in the last 12 months.