AXIS Capital Holdings Limited (NYSE:AXS) Q4 2022 Earnings Call Transcript

Matt Carletti: Great. And then, I mean just one follow-up you mentioned wordings a few times. There are a couple of your big peers in the sector have put in some exclusions, sublimits on I guess systemic risk would be the best term for it. Is that something you guys have taken a look at, and active in any way or I think the industry might adopt more broadly?

Albert Benchimol: Excuse me. So as I mentioned I think a number of organizations are looking at wordings. I think that — and we certainly, are among them. As I said, we’ve already got some limitations in there. I think there’s still some work that’s being done on the wordings and their coverage and their judicial enforcement. But again, my expectation is that during this year, we will see additional progress on the wording side. And you can rest assure, that we’re not going to be standing back and providing more risk and — assuming more risk than we need to in the market. So my expectation is that we will see progress on wordings and reinsurance capacity developing in 2023.

Matt Carletti: Great. Thank you. Appreciate the color. Best of luck in retirement and Vince, congrats.

Vince Tizzio: Thank you.

Operator: Thank you. And this concludes the question-and-answer session. I would like to turn the call to Albert Benchimol for any closing comments.

Albert Benchimol: Great. Thank you very much, operator and thank you all for joining and for your time this morning. Obviously, as you can tell from our results, we feel very, very pleased with 2022. It was a terrific year for AXIS, one in which we took critical steps in bringing forward to life our vision of becoming a leading specialty underwriter. I cannot say this enough. We are in the businesses we want to be, and where we are well positioned to take advantage of opportunities in the market. And that’s really due to the hard work of our team and I want to express my appreciation to our team for their hard work, their commitment, their relentless focus on the profitability of our business. And I want to thank our customers and our brokers, for supporting us for making us part of their business and part of their success.

I couldn’t feel more optimistic about the future for AXIS. And I look forward to still being here next quarter and reporting hopefully, a good first quarter to you. Thank you all and have a great day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines.