Axis Capital reports Q4 operating EPS $1.95, consensus $1.76

Reports Q4 revenue $1.45B, consensus $1.04B. Reports annualized return on average common equity of 4.2% and annualized operating ROACE of 16.9% and book value per diluted common share of $46.95, an increase of $3.45, or 7.9%, compared to September 30, 2022. The company said: "This was a strong quarter to cap a milestone year for AXIS, one in which we emerged as a leading specialty underwriter that is well-positioned to drive consistent, profitable growth in our chosen markets. This was evidenced in our fourth quarter and full year results which speak to the work that we’ve done in prior years to transform our business, enabling us to grow in profitable specialty markets, reduce our exposure to catastrophes, and create a more agile and responsive operating infrastructure."