January 17, 2018 / 2:46 PM / 4 months ago

BRIEF-Axis Capital Provides An Initial Assessment Of The Impact Of U.S. Tax Reform

Jan 17 (Reuters) - Axis Capital Holdings Ltd:

* AXIS CAPITAL PROVIDES ESTIMATED NET FINANCIAL IMPACT OF FOURTH QUARTER 2017 CATASTROPHE LOSSES AND PROVIDES AN INITIAL ASSESSMENT OF THE IMPACT OF U.S. TAX REFORM

* AXIS CAPITAL HOLDINGS LTD - PRELIMINARY ESTIMATE OF TOTAL NET FINANCIAL IMPACT FROM Q4 2017 CATASTROPHE AND WEATHER-RELATED LOSSES IS $130 MILLION

* AXIS CAPITAL HOLDINGS LTD - ALSO REAFFIRMED ITS PREVIOUSLY DISCLOSED ESTIMATE OF TOTAL NET FINANCIAL IMPACT FROM Q3 2017 CATASTROPHE LOSSES

* AXIS CAPITAL HOLDINGS LTD - EXPECTS TO RECOGNIZE A TAX CHARGE IN Q4 OF 2017 RELATED TO REVALUATION OF ITS NET DEFERRED TAX ASSET

* AXIS CAPITAL HOLDINGS LTD - DTA CHARGE IS ESTIMATED TO BE ABOUT $42 MILLION & TO NOT AFFECT CO’S NON-GAAP OPERATING NET INCOME

* AXIS CAPITAL HOLDINGS - BASED ON PRELIMINARY ASSESSMENT, CO DOES NOT CURRENTLY EXPECT U.S. TAX REFORM TO HAVE MATERIAL IMPACT GOING FORWARD ON NET INCOME Source text for Eikon: Further company coverage:

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