What is Axis Capital Holders's reinsurance — year 9?

Axis Capital Holders (AXS) reported reinsurance — year 9 of 6.4% in Q4 2025.

What does reinsurance — year 9 mean?

This metric represents the combined ratio for the reinsurance segment, which is the sum of the loss ratio, acquisition cost ratio, and general and administrative expense ratio. It is the definitive measure of underwriting profitability, where a ratio below 100% indicates an underwriting profit. This is the most widely used metric for comparing the operational efficiency of insurance companies.

Axis Capital Holders (AXS) Reinsurance — Year 9

Screener

Other segment segments

Insurance

6.5%—

Similar metrics at other companies

CNAInternational — Year 9

2.8%—

AFGProperty and casualty insurance — Year 9

1.9%-2.2pp

CNASurety — Year 9

0%—

UFCSPersonal — Year 9

0.4%0.0pp

GLRECasualty — Year 9

7.4%+1.0pp

GLREFinancial — Year 9

0.2%—

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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearNine.

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
8.7%	11.6%	11.4%	10.8%	9.6%	9.5%	7.9%	6.7%	6.4%	4.3%

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Axis Capital Holders's reinsurance — year 9?: Axis Capital Holders (AXS) reported reinsurance — year 9 of 6.4% in Q4 2025.
What does reinsurance — year 9 mean?: This metric represents the combined ratio for the reinsurance segment, which is the sum of the loss ratio, acquisition cost ratio, and general and administrative expense ratio. It is the definitive measure of underwriting profitability, where a ratio below 100% indicates an underwriting profit. This is the most widely used metric for comparing the operational efficiency of insurance companies.