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17 May 2012

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Axis' credit and viatical exposures face 3Q scrutiny

2 November 2009

Axis Capital will become the latest in a long line of (re)insurers to post its third quarter results today but its disclosures are likely to be particularly scrutinised by investors.

The Bermuda-domiciled firm raised eyebrows last month when it forewarned over a third quarter $136mn hit relating to a curious derivative contract that, said the company, related to "longevity risk".

In a 14 October filing, Axis said the hit related to "unfavourable longevity experience in the life settlements portfolio underlying...

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