Bermuda-based specialty re/insurer Axis Capital posted record profitability and a strong combined ratio in what CEO Vince Tizzio called an “excellent second quarter.”
Axis reported a first half combined ratio of 89.5% and 88.9% for Q2 2025, compared with 90.8% in H1 and 90.4% in Q2 in the prior year.
In the first half of 2025, gross premiums written increased by $216 million to $5.3 billion with an increase of $200 million in the insurance segment, and an increase of $16 million in the reinsurance segment.
The GWP for Q2 rose by $76 million to $2.5 billion with an increase of $118 million in the insurance segment, partially offset by a decrease of $43 million in the reinsurance segment.
Increased profitability saw net income available to common shareholders rise to $216 million, up from $204 million, in the prior-year period.
Net profit available to common shareholders for the second quarter of 2025 was $216 million, compared to the net profit of $204 million in Q2 2024.
Vince Tizzio (pictured), president and CEO of Axis Capital, said: “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.
“Our insurance segment continued to excel, generating an 85.3% combined ratio and all time highs in premium volume at $1.9 billion and underwriting income at $152 million, with increasing contributions from our new and expanded products. Our reinsurance business again generated steady positive bottom-line results, with a 92% combined ratio.”
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