AXIS Capital Q3 gross premiums written rise 11%

AXIS Capital Holdings

28/10/2026 20:35

Overview
Specialty insurer's Q3 net income fell 32% yr/yr, operating income down 10%
Gross premiums written rose 11%, led by insurance segment growth
Company repurchased $109 mln in shares in Q3

Outlook
AXIS Capital did not provide specific financial guidance for the current quarter or full year in its press release

Result Drivers
INSURANCE SEGMENT GROWTH - Gross premiums written in insurance segment rose 13%, driven by higher premiums in marine war, property and professional lines, and accident and health lines
HIGHER ACQUISITION COSTS - Acquisition cost ratio increased 3.7 points, mainly due to new property and professional lines business and greater mix of short-tail lines with higher acquisition costs
CATASTROPHE AND WEATHER LOSSES - Catastrophe and weather-related losses ratio rose to 5.7%, reflecting impact from Middle East conflict, Russia-Ukraine war and weather events

Company press release: ID:nGNE7m7vGl

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$2.75
 
Q3 Adjusted Combined Ratio
 
90.30%
 
Q3 Combined Ratio
 
94.00%
 
Q3 Expense Ratio
 
10.80%
 
Q3 Operating income
 
$229 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "hold."
Wall Street's median 12-month price target for AXIS Capital Holdings Limited is $119.00, about 16.4% above its October 27 closing price of $102.24
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)