PEMBROKE, Bermuda (AP) _ Axis Capital Holdings Ltd. (AXS) on Wednesday reported a fourth-quarter loss of $753,000, after reporting a profit in the same period a year earlier.
On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 12 cents. Earnings, adjusted for non-recurring costs, were 5 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The insurance company posted revenue of $1.34 billion in the period. Its adjusted revenue was $1.29 billion.
For the year, the company reported profit of $323.5 million, or $3.34 per share. Revenue was reported as $5.08 billion.
Axis Capital shares have risen 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.40, a rise of 14% in the last 12 months.