AXIS Capital Holdings has reported net income attributable to common shareholders for the second quarter of 2012 of $168m, or $1.35 per diluted common share, up by 66% from $101m, or $0.79 per diluted common share, during the same period last year.
Operating income for the latest quarter period was $113m, or $0.90 per diluted common share, with an increase of 36% compared to $83m, or $0.65 per diluted common share, for the second quarter earlier year.
Net premiums earned rose by 1% to $850.6m, while net investment income down 26% to $74.4m.
Axis’ reinsurance segment reported an underwriting profit of $95m, compared to $9m during the corresponding period in 2011.
Net income available to common shareholders was $290m, or $2.31 per diluted common share, compared to a net loss to common shareholders of $283m, or $2.38 per diluted common share.
AXIS Capital chief executive officer and president Albert Benchimol said the firm is pleased to report diluted book value per share, at $40.55, reached a new record at the end of the second quarter.
"Diluted book value per share growth, including dividends paid, was 12.8% over the last twelve months," Benchimol said.
AXIS Capital offers specialty lines insurance and treaty reinsurance with shareholders’ equity at 30 June 2012 of $5.7bn and trades in Bermuda, the US, Europe, Singapore, Canada, Australia and Latin America.