* Q4 oper EPS $1.83 vs est EPS $1.31
* Q4 total rev up 50 pct to $867.6 mln
* Net premiums rose 8 pct to $713.6 mln
Feb 8 (Reuters) - Axis Capital Holdings Ltd, a Bermuda insurer and reinsurer, posted a better-than-expected quarterly profit, helped by a surge in net investment income.
For the fourth quarter, the company earned $282 million, or $1.87 a share, compared with $131 million, or 88 cents a share, last year.
Operating earnings were $276 million, or $1.83 per share, compared with $163 million, or $1.09 per share, a year ago.
Analysts on average were looking for a profit of $1.31 a share, before items, according to Thomson Reuters I/B/E/S.
Total revenue jumped 50 percent to $867.6 million.
Net premiums earned rose 8 percent to $713.6 million.
Net investment income was $118.2 million, from $26 million in net investment losses in the previous year.
Reinsurers essentially provide insurance to other insurers, spreading the risk of losses among several carriers.
Axis Capital shares closed at $28.69 Monday on the New York Stock Exchange.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: AXISCAPITAL/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q4 total rev up 50 pct to $867.6 mln
* Net premiums rose 8 pct to $713.6 mln
Feb 8 (Reuters) - Axis Capital Holdings Ltd, a Bermuda insurer and reinsurer, posted a better-than-expected quarterly profit, helped by a surge in net investment income.
For the fourth quarter, the company earned $282 million, or $1.87 a share, compared with $131 million, or 88 cents a share, last year.
Operating earnings were $276 million, or $1.83 per share, compared with $163 million, or $1.09 per share, a year ago.
Analysts on average were looking for a profit of $1.31 a share, before items, according to Thomson Reuters I/B/E/S.
Total revenue jumped 50 percent to $867.6 million.
Net premiums earned rose 8 percent to $713.6 million.
Net investment income was $118.2 million, from $26 million in net investment losses in the previous year.
Reinsurers essentially provide insurance to other insurers, spreading the risk of losses among several carriers.
Axis Capital shares closed at $28.69 Monday on the New York Stock Exchange.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: AXISCAPITAL/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.