Bermuda-based re/insurer Axis Capital Ltd saw profits rise by 78 percent last year.The company said in a statement after the close of US markets today that its net earnings totalled $820 million, compared to $461 million in 2009.Axis said its profits for the fourth quarter were $262 million, compared to $282 million in the same period last year.The company reported operating earnings per share of $1.41, comfortably beating the $1.21 forecast of analysts polled by Bloomberg.