Bermuda-based insurer Axis Capital Holdings has recorded a third-quarter profit of $US238.8 million ($235 million), compared with a net loss of $75.3 million ($74 million) in the corresponding last year.

The company says the result mainly reflects higher earned premiums and a better investment environment.

Operating income for the third quarter was $US164 million ($161.4 million), compared to $US152 million ($149.6 million) in the corresponding period last year.

Total revenue for the quarter was $US948 million ($933 million), compared to $US451.7 million ($444 million) in the third quarter last year.