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BRIEF-Axis Capital announces estimated impact of ogden rate change
March 6, 2017 / 11:27 AM / 9 months ago

BRIEF-Axis Capital announces estimated impact of ogden rate change

March 6 (Reuters) - Axis Capital Holdings Ltd:

* Axis Capital - announced estimated impact of U.K. ministry of justice’s reduction of discount rate to calculate lump sum awards in U.K. bodily injury cases

* Axis Capital - estimates pre-tax impact of ogden rate change on co’s carried reserves for relevant lines of business is about $50 million

* Axis Capital - estimates pre-tax impact of ogden rate change on co’s carried reserves for relevant lines of business to be recognized in Q1 of 2017

* Axis Capital - pre-tax impact of ogden rate change relates primarily to Axis Capital’s U.K. motor non-proportional business in its reinsurance segment Source text for Eikon: Further company coverage:

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