What is Axis Capital Holders's insurance — year 2?

Axis Capital Holders (AXS) reported insurance — year 2 of 38.8% in Q4 2025.

What does insurance — year 2 mean?

Represents the insurance segment's claims development or liability exposure for the second underwriting year. It tracks the maturation of loss reserves and the accuracy of initial underwriting assumptions.

Axis Capital Holders (AXS) Insurance — Year 2

Screener

Other segment segments

Reinsurance

40.9%+42.0%

Similar metrics at other companies

AFGProperty and casualty insurance — Year 2

31.6%+0.3pp

KMPRCommercial Automobile Insurance—Liability — Year 2

46.6%-5.5pp

ESN

ESNTProperty Insurance Product Line — Year 2

45%+3.0pp

CNAInternational — Year 2

22.6%—

CNASurety — Year 2

36.2%-4.8pp

UFCSPersonal — Year 2

35.2%+2.2pp

Other financials

Income statement

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Revenue$1.8B+7.4%

Net income$258.1M+15.6%

EPS (diluted)$3.38+24.3%

Balance sheet

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Cash & equivalents$780.0M-8.5%

Total debt$108.3M+1.7%

Total equity$6.5B+5.3%

Total assets$36.6B+7.2%

Cash flow

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Operating cash flow$631.5M+138%

CapEx$14.2M+17.4%

Free cash flow$617.4M+137%

Valuation

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Market cap$7.61B+2.1%

Enterprise value$6.94B+3.5%

P/E6.9×-1.5×

P/S1.1×-0.1×

Profitability

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Net margin16.2%+1.9pp

FCF margin-6.9%-33.2pp

Returns & leverage

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Return on equity17.4%+2.4pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Axis Capital Holders in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsHistoricalClaimsDurationYearTwo.

The source filing: Axis Capital Holders’s 10-K, filed February 27, 2026.

Filed: Feb 27, 2026, 7:58 AM EST
Fiscal year: FY2025
Accession: 0001214816-26-000097

Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
29.5%	38.8%	13.9%	5.5%	1.3%	0.5%	0.7%	1.1%	1.1%	0.6%

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Axis Capital Holders's insurance — year 2?: Axis Capital Holders (AXS) reported insurance — year 2 of 38.8% in Q4 2025.
What does insurance — year 2 mean?: Represents the insurance segment's claims development or liability exposure for the second underwriting year. It tracks the maturation of loss reserves and the accuracy of initial underwriting assumptions.