Axis to grow credit/political risk after Blue City settlement
After cutting the albatross free with its Blue City settlement,
Axis Capital offered a bullish outlook over its future
participation in credit and political risk insurance.
The Bermudian settled its $399mn exposure to the $20bn real estate
project in Oman within the reserving provisions it had previously
set up for the loss, as it showed no development on the claim in
its Q2 financials.
Indeed, better-than-expected loss experience on the company's
broader trade credit and bond reinsurance business allowed Axis...
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