Axis beats Street estimates powered by reinsurance

Axis Capital handily beat Wall Street's second-quarter profit
estimates as the performance of its reinsurance segment helped to
offset a narrow underwriting loss in its primary arm.
Operating income at the New York-listed carrier more than
doubled to $110mn, or $1.31 per share, for the quarter. Analysts
had been looking for $1.19 per share, according to a MarketWatch
compilation of 10 estimates.
The (re)insurer's combined ratio improved 4.6 points to 97.6
percent, once again largely powered by i