AXIS Capital Expects Losses of $275-$315M from New Zealand and Australia Catastrophes

AXIS Capital Holdings Limited AXS today estimated that the total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will be between $275-$315 million. Loss estimates are pre-tax and net of reinstatement premiums. The total net impact of the New Zealand earthquake in the first quarter of 2011 is expected to be between $185-$215 million. The total net impact of loss events in Australia that have occurred to date in the first quarter of 2011 is expected to be between $90-$100 million.