What is Axis Capital Holders's reinsurance — year 6?

Axis Capital Holders (AXS) reported reinsurance — year 6 of 9.5% in Q4 2025.

What does reinsurance — year 6 mean?

This metric represents the prior year reserve development ratio, which measures the impact of changes in estimates for claims incurred in previous periods. A negative ratio indicates favorable development, where reserves were redundant, while a positive ratio indicates unfavorable development. It is a key indicator of the accuracy of historical loss reserving practices.

Axis Capital Holders AXS Reinsurance — Year 6

Other segment segments

Insurance

10.8%—

Similar metrics at other companies

ACGLReinsurance — Prior years

-$172M-35.4%

HIGAssumed reinsurance — Prior accident year development [1]

$5M—

ACGLInsurance — Prior years

-$14M+17.6%

PGRPrior years

-$451M-62.2%

ACGLReinsurance — Loss ratio

51.7%-15.2pp

AIGPrior years, excluding discount and amortization of deferred gain

-$126M-282%

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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearSix.

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 reinsurance — year 6?: Axis Capital Holders (AXS) reported reinsurance — year 6 of 9.5% in Q4 2025.
What does reinsurance — year 6 mean?: This metric represents the prior year reserve development ratio, which measures the impact of changes in estimates for claims incurred in previous periods. A negative ratio indicates favorable development, where reserves were redundant, while a positive ratio indicates unfavorable development. It is a key indicator of the accuracy of historical loss reserving practices.