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

Other segment segments

Reinsurance

40.9%+42.0%

Similar metrics at other companies

EGProperty Insurance — Year two

59.2%-2.4pp

HIGProperty Insurance — 2nd Year

58.1%0.0pp

ACGLSpecialty — Year Two

28.2%-1.0pp

FRHCLife Insurance — 2

32.1%+23.6pp

EGCasualty Insurance — Year two

20.8%—

HIGAutomobiles — 2nd Year

54.1%+0.3pp

Other financials

Income statement

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Revenue$1.6B+8.0%

Net income$254.8M+31.3%

EPS (diluted)$3.29+45.6%

Balance sheet

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Cash & equivalents$862.4M-68.7%

Total debt$110.2M+2.7%

Total equity$6.4B+8.1%

Total assets$35.6B+7.1%

Cash flow

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Operating cash flow$519.4M+68.0%

CapEx$14.4M+97.9%

Free cash flow$505.0M+67.3%

Valuation

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Market cap$7.45B-7.4%

Enterprise value$6.69B+23.9%

P/E7×-2.2×

P/S1.1×-0.2×

Profitability

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Net margin16%+1.5pp

FCF margin-6.9%-32.6pp

Returns & leverage

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Return on equity17.4%+2.0pp

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 official record: Axis Capital Holders’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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.