AXIS Capital Reports Third Quarter Net Income Available to Common Shareholders of $202 Million, or $2.75 per Diluted Common Share and Operating Income of $229 Million, or $3.12 per Diluted Common Share
Key Highlights
- ➤Q3 operating income $229 million, down 10% year over year
- ➤Q3 combined ratio 94.0%, worsening 4.6 points year over year
- ➤Gross premiums written rose 11% to $2.4 billion
- ➤Q3 net income $202 million, down 32% year over year
- ➤Capital returned totaled $141 million, including $109 million in share repurchases
Expert Statements
Vince Tizzio, President and CEO of AXIS Capital
“This was a strong quarter for AXIS, as our team leaned into attractive underwriting opportunities while practicing disciplined cycle management in a transitioning market. Our performance included a 15.7% annualized operating return-on-equity, $3.12 in operating earnings-per-share, and gross premiums rose 11%. Over the past twelve months, AXIS has generated a 14.4% increase in diluted book value per share, ex AOCI.”
Vince Tizzio, President and CEO of AXIS Capital
“Our Insurance business produced a 13% increase in gross premiums with a 92.0% combined ratio and an 87.2% current accident year ex-cat combined ratio. Leveraging our global platform, we drove diversified premium volume with meaningful contributions from our expanded classes and AXIS Capacity Solutions capability. Within AXIS Re, we generated our 11(th) consecutive profitable quarter.”
Vince Tizzio, President and CEO of AXIS Capital
“As we look ahead to the remainder of this year and to 2027, AXIS is well-positioned. The strength of our balance sheet provides us with the flexibility to make smart investments in our business spanning products, platforms, and talent. We are excited about where AXIS stands today, supported by a clear strategy, balanced and resilient portfolio, enhanced operating model, and deep and capable team.”
For the third quarter of 2026, the Company reports: * Annualized return on average common equity ("ROACE") of 13.8% and annualized operating ROACE of 15.7% * Combined ratio of 94.0% and underwriting income of $134 million * Book value per diluted common share of $79.06 For the nine months ended September 30, 2026, the Company reports: * Net income available to common shareholders of $699 million, or $9.42 per diluted common share and operating income of $697 million, or $9.39 per diluted common share * Annualized ROACE and annualized operating ROACE of 16.1% * Combined ratio of 92.3% and underwriting income of $464 million * Book value per diluted common share, excluding accumulated other comprehensive income (loss) ("AOCI") of $84.33, an increase of $10.64, or 14.4%, compared to $73.69 at September 30, 2025 PEMBROKE, Bermuda, Oct. 28, 2026 (GLOBE NEWSWIRE) -- AXIS Capital Holdings Limited ("AXIS Capital" or "AXIS" or "the Company") (NYSE: AXS) today announced financial results for the third quarter ended September 30, 2026.
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