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Sep 30
AXIS Capital Q3 2025 Earnings Report
AXIS Capital reported strong financial results for the third quarter of 2025, with significant increases in diluted book value per common share and annualized operating return on equity, driven by excellent performance in its insurance business.
Key Takeaways
AXIS Capital delivered a robust third quarter in 2025, marked by a 14% year-over-year increase in diluted book value per common share and an 18% annualized operating return on equity. The insurance segment achieved record gross premiums written of $1.7 billion, an 11% growth, and a strong combined ratio of 85.9%. The reinsurance segment also performed solidly with a 92.2% combined ratio and a 6% increase in gross premiums written.
Diluted book value per common share increased by 14% year-over-year.
Annualized operating return on average common equity reached 18%.
Insurance segment reported record third quarter gross premiums written of $1.7 billion, up 11%.
Consolidated combined ratio improved to 89.4% from 93.1% in the prior year quarter.
AXIS Capital
AXIS Capital
AXIS Capital Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comReinsurance Revenue
CapyFin.com Forward Guidance
AXIS Capital is focused on continued operational improvements through its "How We Work" program, leveraging investments in data, technology, and AI to become a leading specialty underwriter. The company anticipates sustained disciplined execution and portfolio enhancements to drive future performance.
Positive Outlook
- Continued focus on operational improvements through the "How We Work" program.
- Strategic investments in data, technology, and AI to enhance business operations.
- Ambition to become the industry's leading specialty underwriter.
- Disciplined execution and product portfolio enhancements are expected to drive future results.
- Positive outlook on sustained strong performance in both insurance and reinsurance segments.
Challenges Ahead
- Cyclical nature of insurance and reinsurance business may lead to periods of excess underwriting capacity and unfavorable premium rates.
- Frequency and severity of natural and man-made catastrophes pose ongoing risks.
- Potential for adverse impacts from social and economic inflation.
- Industry competition and consolidation could affect market position.
- Changes in laws and regulations, and potential government intervention, may impact the industry.