Axis Capital Holdings Limited · NYSE:AXS
Axis Capital — Sanford C. Bernstein Thirtieth Annual Strategic Decisions Conference 2014
13 slides from Axis Capital's conference presentation, May 30, 2014
Slide 1: AXIS Capital at Sanford C. Bernstein Strategic Decisions Conference 2014
AXIS Capital Sanford C. Bernstein Thirtieth Annual Strategic Decisions Conference 2014, New York, NY Albert Benchimol, President & CEO May 30, 2014
Slide 2: Safe Harbor Statement
Safe Harbor Statement 2 Statements in this presentation that are not historical facts, including statements regarding our estimates, beliefs, expectations, intentions, strategies or projections, may be “forward-looking statements” within the meaning of the U.S. federal securities laws, including the
Slide 3: Hybrid (Re)insurer with Strategic Flexibility
44% 56% Hybrid (Re)insurer with Strategic Flexibility 3 • 748 Employees • GPW CAGR 2002 – 2013 = 11% • Underwriting Profit every year • 213 Employees • GPW CAGR 2002 – 2013 = 19% • Underwriting Profit 10 of 12 years (1) Includes corporate expenses. AXIS Insurance AXIS Re ‘02-’13 GPW $22.8 ‘02-’13 Un
Slide 4: AXIS Insurance's Underwriting Has Outperformed Specialty Peers
16.9% 15.4% 10.8% 9.8% 9.1% 9.0% 8.9% 8.8% 6.2% 5.2% 5.1% 2.7% 2.4% 2.1% (1.5%) 15.4% 8.4% 6.7% 6.1% 4.6% (5.0%) 0.0% 5.0% 10.0% 15.0% 20.0% AXIS Insurance’s Underwriting Has Outperformed Specialty Peers 4 2003 – 2013 Aggregate Underwriting Profitability(1) Source: Company documents. Note: US Specia
Slide 5: AXIS Re's Underwriting Has Outperformed Diversified Peers
37.2% 30.1% 16.8% 11.9% 11.3% 9.9% 8.9% 8.3% 7.8% 5.5% 5.2% 4.8% 3.4% 1.6% 1.0% 1.0% 0.1% 27.7% 11.3% 10.7% 4.1% 3.7% 2.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% AXIS Re’s Underwriting Has Outperformed Diversified Peers 2003 – 2013 Aggregate Underwriting Profitability(1) Source: Company
Slide 6: Strategic Global Presence
• 29 offices on 5 continents • Risk-bearing platforms in the U.S., Bermuda and Europe, with international branches 6 Regional Service Hubs Employees North America 799 Europe(1) 293 Bermuda 72 Far East 70 Total 1,234 (1) Includes employees in Sao Paulo branch of AXIS Re. Strategic Global Presence
Slide 7: Momentum in Global AXIS A&H Initiative
Momentum in Global AXIS A&H Initiative 7 UK/EUROPE US MIDDLE EAST ASIA New Reinsurance Products HealthCare Wholesale Distribution Limited Benefits Insurance on the Continent New Reinsurance Products Wholesale Distribution Specialty Health New Countries New Reinsurance Products Developing a global hy
Slide 8: Delivered Excellent Shareholder Value Creation
Delivered Excellent Shareholder Value Creation 8 (1) Diluted book value per share calculated using treasury stock method. 12/31/02 diluted BVPS is pro forma for AXIS Capital IPO. 2002 – 2014Q1 CAGR = 13.1% Total Value Creation = Growth in Diluted Book Value per Share(1) + Accumulated Declared Divide
Slide 9: Significant Return of Capital to Shareholders
$291 $176 $710 $66 $318 $472 $179 $106 $113 $108 $206 $120 $118 $30 $397 $289 $818 $272 $438 $590 $208 $0 $200 $400 $600 $800 $1,000 2008 2009 2010 2011 2012 2013 2014Q1 Share Buybacks(2) Common Dividends 9 (1) Operating Income represents after-tax operational results without consideration of after-
Slide 10: Strategic Initiatives to Achieve Goals
Invest in our people and culture • Underwriting talent which delivered superior underwriting results since inception • Successfully attracting and adding new top-tier underwriting talent Deliver diversified growth • Bring specialist underwriting to new target markets • Develop new specialist franchi
Slide 11: Progress on Strategic Initiatives
Progress on Strategic Initiatives • Significant contribution from new, diversifying initiatives o Accident and Health unit o Global agriculture reinsurance line • New, diversifying initiatives in early stages o Lloyd’s presence o Re-entry into U.S. primary casualty o New distribution initiatives in
Slide 12: Environment Continues to Support Good Margins
Environment Continues to Support Good Margins 12 AXIS Insurance Current Business Mix Rate Change Index AXIS Insurance Total, 104 Aviation & Terrorism, 50 Professional lines, 85 Property Lines, 120 Casualty Lines, 99 Marine & Energy Lines, 143 30 40 50 60 70 80 90 100 110 120 130 140 150 2004 2005 20
Slide 13: Question & Answer Session
Question & Answer Session