Axis Capital Holdings Ltd. said its second-quarter profit declined as revenue from premiums and investment income fell. In January, Axis said it planned on merging with Bermuda-based reinsurer PartnerRe Ltd. in effort to form one of the world's biggest reinsurance and specialist insurance companies. But Italian investment firm Exor SpA has started a merger tug of war with Axis, sweetening its bid for PartnerRe in an effort to thwart the deal.
