AXIS Capital (AXS) Unit Launches Complementary Health Product

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AXIS Capital Holdings LimitedAXS AXIS Group Benefits of AXS has introduced HealthGap, a new insurance gap product to its product portfolio of business travel coverage, voluntary and complementary benefits. AXIS Group Benefits, part of the AXIS Accident and Health (A&H) division, will provide coverage in several areas in the United States.

HealthGap is a supplemental medical insurance policy that matches an employee’s medical policy. It reimburses initial costs and covered disbursements, including deductibles and co-insurance.

AXS is a recognized provider of limited benefit products for underserved industries. The addition of HealthGap to its portfolio marks AXIS Group Benefit’s expansion into the traditional employer market.

AXIS Capital continues to rely on its specialty insurance, reinsurance as well as accident and health to pave the way for long-term growth. This Zacks No. 2 (Buy)-rated global specialty insurer and reinsurer, which targets leadership in specialty risks, remains focused on growing its lines of business that are likely to deliver strong double-digit returns on growth opportunities. equity.

Shares of AXIS Capital have gained 5.1% since the start of the year compared to the industrydown 6.3%. The company’s focus on repositioning its portfolio and markets to deliver profitable growth, reduced volatility, strong market presence, better pricing, margin expansion and efficient capital deployment should help maintain momentum.

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Insurers are continuously strengthening their competitive advantage by adopting organic growth initiatives. Recently, WR Berkley Corporation WRB created Berkley Enterprise Risk Solutions to provide workers’ compensation insurance to large corporations headquartered in California.

WR Berkley established new units to meet the demands of emerging markets or increasingly important risks or sectors of the economy. The creation of Berkley Small Business Solutions is part of this strategy. Shares of WRB have gained 25.5% since the start of the year.

Other actions to consider

Some other leading stocks in the insurance industry are American Financial Group, Inc.. AFG and HCI Group HCI, each sporting the Zacks No. 1 (Strong Buy) rating. You can see the full list of today’s Zacks #1 Rank stocks here.

The Zacks consensus estimate for HCI Group’s 2022 and 2023 earnings moved north 33.3% and 40%, respectively, in the past 60 days, indicating a year-over-year increase of 280 .9% and 75%.

The Zacks consensus estimate for American Financial’s earnings in 2022 and 2023 has moved north 9.8% and 6.9%, respectively, over the past 60 days. American Financial’s earnings beat estimates in each of the past four quarters, averaging 41.72%. AFG sports a #1 Zacks rank.

Shares of AFG have gained 0.% year-to-date, while those of HCI have lost 20% over the same period.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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