AXIS Capital Expects Higher Premium Growth in Second Half Amid Record Q2 Returns

AXIS Capital has reported record Q2 returns, driven by strategic investments. The company expects higher second-half premium growth, led by its commercial insurance segment. CEO Vincent Christopher Tizzio attributed the success to sustained positive momentum and strong performance across various business lines. AXIS Capital's results reflect the company's ability to capitalize on emerging opportunities and achieve growth despite challenging market conditions.

AXIS Capital Holdings Limited, a global specialty underwriter and provider of insurance and reinsurance, has reported strong financial performance for the second quarter of 2025. The company's gross premiums written (GPW) increased by 3% to $2.5 billion, driven primarily by a 7% increase in the insurance segment. This growth was partially offset by a 7% decrease in the reinsurance segment.

Vincent Christopher Tizzio, President and CEO of AXIS Capital, attributed the success to sustained positive momentum and strong performance across various business lines. The company's net premiums written (NPW) also increased by 4% to $1.6 billion, reflecting the growth in GPW and a decrease in cession rates in property and liability lines.

AXIS Capital's combined ratio improved to 88.9% in Q2’25, driven by a lower loss ratio of 57.5%, a lower acquisition ratio of 19.8%, and a slightly higher expense ratio of 11.6%. Underwriting income grew by 31.1% in the insurance segment to $151 million, while the reinsurance segment saw a 17.5% dip to $37.5 million.

Net income available to AXIS common shareholders was $216 million, or $2.72 per diluted common share, compared to $204 million, or $2.40 per diluted common share in Q2’24. The operating income for Q2’25 was $261 million, or $3.29 per diluted common share, compared to $250 million, or $2.93 per diluted common share in Q2’24.

Tizzio commented on the company's performance, stating, "AXIS delivered an excellent second quarter highlighted by record profitability and we continued our trend of strong performance, with 18.6% diluted book value per share growth over the prior year. In the quarter, we produced an annualised operating return-on-equity of 19% and an 88.9% combined ratio. In addition, we set new company records for first half underwriting income and production, while targeting premium adequate business that meets our risk-adjusted returns."

The company expects higher second-half premium growth, led by its commercial insurance segment. AXIS Capital's results reflect the company's ability to capitalize on emerging opportunities and achieve growth despite challenging market conditions.

References:
[1] https://seekingalpha.com/news/4474479-axis-capital-signals-higher-second-half-insurance-premium-growth-as-strategic-investments
[2] https://www.reinsurancene.ws/axis-capitals-gpw-hit-2-5b-in-q225-cor-strengthens-to-88-9/