AXIS Capital Holdings Limited reported its financial results for the second quarter of 2025, revealing a net income of $216 million, or $2.75 per common share, compared to $212 million, or $2.70 per share, in the same period last year. The company’s operating income for the quarter was $261 million, translating to $3.29 per diluted common share. Gross premiums written reached $2.5 billion, while net premiums earned totaled $1.4 billion, reflecting a 7% increase in gross premiums compared to the previous year. The underwriting income stood at $189 million, with a combined ratio of 88.9%, indicating a strong performance in underwriting activities.

In comparison to the previous fiscal period, AXIS Capital experienced a notable increase in net premiums earned, which rose by $75 million, or 8%, year-over-year. The growth was primarily driven by increases in various lines of business, including property, accident and health, and professional lines. However, the company also faced challenges, such as a decrease in gross premiums written in certain sectors, including cyber and agriculture, attributed to competitive market conditions and the timing of contract renewals. The company reported pre-tax catastrophe and weather-related losses of $37 million, which impacted the overall financial results.

Strategically, AXIS Capital completed a significant loss portfolio transfer reinsurance agreement with Cavello Bay Reinsurance Limited, a subsidiary of Enstar Group Limited, on April 24, 2025. This agreement retroceded a portfolio of reinsurance business predominantly related to prior underwriting years, with net reserves for losses and loss expenses of approximately $2 billion. The transaction is expected to provide substantial protection against adverse prior year reserve developments, although it may introduce some volatility to the company's results in the short term.

Operationally, AXIS Capital reported total cash and invested assets of $16.3 billion, with fixed maturities, short-term investments, and cash comprising 86% of this total. The company’s total assets increased to $34.2 billion, while the reserve for losses and loss expenses rose to $17.9 billion. The company also repurchased 0.5 million common shares for $51 million during the quarter, as part of its ongoing share repurchase program, which has been authorized for up to $400 million.

Looking ahead, AXIS Capital maintains a positive outlook, emphasizing its commitment to advancing as a specialty underwriting leader. The company plans to focus on profitable growth opportunities in targeted specialty markets while navigating the uncertainties presented by the current trade and geopolitical environment. The overall outlook for the property and casualty market remains favorable, with expectations of continued pricing momentum in certain sectors, despite some softening in others. AXIS Capital aims to leverage its diversified portfolio and strong distribution relationships to drive future growth.

About AXIS CAPITAL HOLDINGS LTD

About 10-Q Filings

A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.

Key points about the 10-Q:

  • Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
  • Content: It includes:
    • Financial statements showing the company's current financial position
    • Updates from management on the performance and projections of the business
    • Information about potential risks the company faces
    • Details on how the company is run internally
  • Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.

Our Methodology

AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.

Our method:

  1. Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
  2. AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
  3. Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
  4. Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
  5. Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Read more about AssetRoom

Feedback & Corrections

Spot an error or have a suggestion? Contact us.