| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.6K | 8.0% |
| Total Income | 1.6K | 8.0% |
| Expenditure | 1.3K | 3.8% |
| PBT | 308.14 | 30.5% |
| Net Profit | 254.77 | 31.3% |
| OPM | — | |
| NPM | 15.50% | 2.75pp |
| EPS | 3.34 | 45.2% |
AXIS Capital Reports Q1 2026 Net Income of $247 Million, Up 33% YoY
30 Apr 2026 · 30 Apr, 2:16 am
Summary
AXIS Capital Holdings Limited announced strong financial results for the first quarter of 2026, with net income available to common shareholders increasing by 33% to $247 million. The Company's underwriting income also saw a significant rise of 15% to $187 million, contributing to an improved combined ratio of 89.8%. Gross premiums written grew by 11% to $3.1 billion, driven by robust performance in the Insurance segment. CEO Vince Tizzio highlighted the sustained strength of their operating model and investments in products, distribution, innovation, and talent as key drivers for profitable growth.
Key Highlights
- 1
Net income available to common shareholders for the first quarter of 2026 increased by 33% to $247 million, compared to the first quarter of 2025.
- 2
The Company reported operating income of $257 million for Q1 2026, a decrease of 2% year-over-year.
- 3
Underwriting income rose by 15% to $187 million in the first quarter of 2026.
- 4
Gross premiums written grew by 11% to $3.1 billion, with the Insurance segment contributing a 20% increase.
- 5
AXIS Capital achieved a combined ratio of 89.8% and an annualized operating return on average common equity of 17.7% for the quarter.
- 6
Book value per diluted common share stood at $78.19 as of March 31, 2026, marking a 1.3% increase from December 31, 2025, and a 17.6% increase over the past twelve months.
- 7
Total capital returned to common shareholders amounted to $93 million, comprising $60 million in common share repurchases and $33 million in common share dividends.
Management Comments
Vince Tizzio
AXIS began 2026 building on the profitable growth that has defined our performance over the past three years. In the quarter, we produced gross premiums written of $3.1 billion, which represents an 11% increase year-over-year, with an 89.8% combined ratio. This translates to a 17.7% annualized operating return on average common equity, with 17.6% diluted book value per share growth over the past twelve months. Our Insurance business generated strong results with $1.9 billion gross premiums written and an 86.3% combined ratio, continuing to benefit from our expanded business classes and recently launched AXIS Capacity Solutions capability. AXIS Re continues to produce very solid underwriting profits, generating a 92.7% combined ratio while leaning into attractive short tail lines which comprised more than 60% of total reinsurance premiums. This performance highlights the sustained strength of our operating model. Our investments in products, distribution, innovation and talent are unlocking new opportunities to drive profitable growth as we execute on our specialty strategy.
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