| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.8K | 6.7% | 7.3% |
| Total Income | 1.8K | 6.7% | 7.3% |
| Expenditure | 1.4K | 7.5% | 5.9% |
| PBT | 316.19 | 2.6% | 12.8% |
| Net Profit | 258.10 | 1.3% | 15.6% |
| OPM | — | ||
| NPM | 14.72% | 0.78pp | 1.05pp |
| EPS | 3.41 | 2.1% | 24.0% |
AXIS Capital Reports Q2 2026 Net Income of $251 Million and Operating Income of $211 Million
29 Jul 2026 · 29 Jul, 1:57 am
Summary
AXIS Capital reported strong second quarter 2026 results, with net income available to common shareholders of $251 million, up 16% year-over-year, and operating income of $211 million. The company achieved an annualized operating return on equity of 14.3% and a combined ratio of 93.1%, generating $143 million in underwriting income. Gross premiums written rose 6% to $2.7 billion, primarily driven by the insurance segment's 15% growth, while book value per diluted common share reached $80.67, marking a 14.7% increase over the past year. Management highlighted consistent, profitable growth amidst evolving market conditions.
Key Highlights
- 1
AXIS Capital reported net income available to common shareholders of $251 million for the second quarter of 2026, an increase of 16% compared to the second quarter of 2025.
- 2
Operating income for the second quarter of 2026 was $211 million, with an annualized operating return on equity of 14.3%.
- 3
The combined ratio for the second quarter of 2026 was 93.1%, resulting in underwriting income of $143 million.
- 4
Gross premiums written increased by 6% to $2.7 billion in the second quarter of 2026, driven by a 15% increase in the insurance segment.
- 5
Book value per diluted common share was $80.67 at June 30, 2026, an increase of 14.7% over the past twelve months.
- 6
Net income available to common shareholders year-to-date was $498 million, an increase of 24% compared to the same period in 2025.
Management Comments
Vince Tizzio
AXIS continued to generate consistent, profitable growth in the second quarter, amidst an evolving risk landscape impacted by the Middle East conflict and further transitioning market conditions. Our results were highlighted by 14.3% annualized operating return-on-equity, 15% year-over-year increase in book value per diluted common share, and gross premiums written of $2.7 billion, up by 6% over the prior year. Our insurance business performed strongly with $2.2 billion in premiums and a 90.0% combined ratio and an 84.5% current accident year ex-cat combined ratio. This was propelled by our expanded classes and contributions from our AXIS Capacity Solutions capability. Within reinsurance, we maintained a disciplined stance, with more than half of our production coming from targeted short-tail lines, complementing our broader underwriting strategy. In the third quarter, AXIS will celebrate its 25th anniversary. Our company was founded in the aftermath of September 11 to address an urgent need for tailored insurance solutions. Since then, that need has only intensified, reinforcing the critical role specialists play in helping clients navigate an increasingly dynamic risk environment.
Informational and educational content only. Not investment advice.