Results
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The ceded premium ratio declined by 2.1 points to 31%. -
The group-level cat impact to the combined ratio improved 0.3 points to 1.8.
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The Bermuda sidecar took losses of $21.1mn from the reinsurer during the quarter.
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The carrier had improved its combined ratio by 6 points to 99.4%.
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The reinsurer has placed layers of its mortality risk into the capital markets since 2013.
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The reinsurer so far has made no claims on its retro protections for war-related impacts.
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Major losses added 5.4 points to the combined ratio.
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The carrier booked $45mn Q2 cat losses net of retrocession that included $41mn from Natal Floods and $4mn associated with the Australian floods.
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Inflows allowed the unit to step up to the distressed Florida market.
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The ILS firm reported $8.5bn of assets under management at mid-year.
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Axa also announced the launch of a group EUR1bn share buy-back scheme.
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The Australian investor made 5.0% on its ILS investments in the 12 months to 31 March.
