AXIS Capital Holdings Limited reported its financial results for the third quarter of 2025, showcasing a net income of $294 million, or $3.79 per common share, compared to $180 million, or $2.17 per share, in the same period last year. The company’s operating income for the quarter was $255 million, translating to $3.25 per diluted common share. Gross premiums written reached $2.1 billion, reflecting an increase of 11% year-over-year, driven by growth in various lines including professional, accident and health, and property insurance. The underwriting income for the quarter was reported at $188 million, with a combined ratio of 89.4%, indicating effective cost management and profitability in its underwriting operations.
In comparison to the previous fiscal period, AXIS Capital experienced a notable increase in net premiums earned, which rose to $1.5 billion, up from $1.4 billion in Q3 2024. The company also reported net investment income of $185 million and net investment gains of $31 million for the quarter. However, the total cash and invested assets decreased to $16.8 billion from $17.5 billion at the end of 2024, primarily due to share repurchases and other operational cash flows. The company repurchased 1.1 million shares for a total of $110 million during the quarter, contributing to a reduction in outstanding shares.
Strategically, AXIS Capital has focused on expanding its specialty insurance and reinsurance offerings, particularly in the U.S. excess and surplus lines and Lloyd's specialty insurance markets. The company has also implemented a loss portfolio transfer reinsurance agreement with Enstar, which retrocedes a portfolio of reinsurance business predominantly related to prior underwriting years. This agreement is expected to provide significant protection against adverse reserve developments, enhancing the company's financial stability.
Operationally, AXIS Capital reported a total of 77,037,743 common shares outstanding as of October 24, 2025. The company continues to invest in technology and data analytics to improve underwriting efficiency and customer service. The firm’s geographic expansion efforts are evident as it seeks to introduce its products and services to new regions, particularly in North America. The company’s focus on maintaining a diversified portfolio and disciplined underwriting strategy is expected to support its growth objectives.
Looking ahead, AXIS Capital anticipates continued profitable growth, despite potential challenges posed by the current trade and geopolitical environment. The company is committed to leveraging its market position and diversified book of business to navigate these uncertainties. The outlook remains positive, with expectations of sustained demand in specialty markets and a focus on underwriting discipline to capitalize on profitable opportunities.
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.
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