Axis beats Wall 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, in the quarter. Analysts had
forecast earnings of $1.19 per share, according to a compilation of
10 estimates from MarketWatch.
The (re)insurer's combined ratio improved by 4.6 percentage
points to 97.6 percent, once agai