AXIS Capital Comments on Net Financial Impact of $90-105M from Q2 and Q1 2011 Catastrophes

AXIS Capital Holdings Limited AXS today estimated that the total net financial impact of the June 2011 aftershock in New Zealand and the series of severe weather events that occurred in the U.S. in April and May 2011 is expected to be $90-$105 million. These amounts are net of reinsurance coverage, tax and reinstatement premiums. The net financial impact of the New Zealand aftershock is expected to be $30-$35 million. The net financial impact of the severe weather events that occurred in the U.S. during the second quarter is expected to be $60-70 million.