AXIS Capital Holdings Limited reported a strong financial performance for the first quarter of 2026, with net income available to common shareholders reaching $247 million, or $3.29 per diluted share. This marks an increase from the $194 million, or $2.63 per diluted share, reported in the same period last year. The company also achieved operating income of $257 million, translating to $3.42 per diluted share, compared to $3.25 per diluted share in the first quarter of 2025. Gross premiums written totaled $3.1 billion, reflecting a 20% increase from the prior year, driven by growth in property, professional lines, and accident and health segments.

In terms of operational changes, AXIS Capital has been actively streamlining its reinsurance operations, which resulted in reorganization expenses of $23 million during the quarter. The company also reported net investment income of $185 million, although it faced net investment losses of $27 million, primarily due to unrealized losses on equity securities. The effective tax rate for the quarter was 18.0%, with an income tax expense of $56 million.

The company’s total assets increased to $35.6 billion, with total cash and invested assets amounting to $17.3 billion. The reserve for losses and loss expenses stood at $18.3 billion, while reinsurance recoverable on unpaid and paid losses was $9.5 billion. AXIS Capital's debt remained stable at $1.3 billion, resulting in a debt-to-total capital ratio of 17.1%. The company repurchased 0.8 million common shares for a total of $82 million during the quarter, as part of its ongoing share repurchase programs.

Looking ahead, AXIS Capital aims to continue its growth strategy by focusing on specialty lines in insurance and reinsurance markets, particularly in the U.S. excess and surplus lines and Lloyd's specialty insurance business. The company is also investing in technology and data capabilities to enhance its service offerings. Despite a fluid global trade and geopolitical landscape, AXIS Capital is positioned to capitalize on market dislocations through disciplined pricing and portfolio management, aiming for sustainable, profitable growth throughout 2026.

About AXIS CAPITAL HOLDINGS LTD

AXIS Capital Holdings Limited is a global specialty underwriter providing insurance and reinsurance solutions across diverse markets including Bermuda, the U.S., Europe, Canada, and Asia Pacific. Its core business segments include specialty insurance—covering professional lines, property, liability, cyber, marine, aviation, and credit risks—and treaty reinsurance. AXIS leverages underwriting expertise, diversified risk portfolios, strong financial strength, and broad distribution through brokers and managing agents to deliver tailored risk transfer products and services worldwide.

This description was generated via AI from an annual report. Updated 8 months ago.

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