Axis Capital reports Q1 operating EPS $3.17, consensus $2.69

Reports Q1 revenue $1.52B, consensus $1.83B. Commenting on the first quarter 2025 financial results, Vince Tizzio, President and CEO of AXIS Capital (AXS) said: “AXIS delivered another strong quarter of consistent, profitable performance as we continued to lean into our specialty underwriting value proposition, while helping our customers navigate a rapidly changing risk landscape. We remain focused on driving bottom-line results. In the quarter, we produced annualized operating return-on-equity of 19.2% and achieved record-level book value per diluted common share of $66.48 at March 31st. We’re shaping a resilient portfolio that generates strong performance throughout the cycle, as reflected by our 90.2% combined ratio during an active quarter for natural catastrophes including wildfires. In the quarter, AXIS’ share of industry catastrophe losses was 0.09%. Within our business segments, we’re continuing to drive targeted growth in attractive specialty markets. For Insurance, we delivered an 86.7% combined ratio and our highest ever first quarter production with $1.7 billion in gross premiums. A key driver was our Excess & Surplus lines, including growing contributions from our expanded product offerings in North America. In addition, our Reinsurance business continued to generate steady, profitable results with a 92.3% combined ratio and $1.1 billion in premiums. Underpinning our progress, we’re further enhancing our operations backbone including how we leverage data, technology and AI, reflecting a broader commitment to continuous improvement. Our disciplined efforts across all areas of our business has AXIS on the front foot, and we are excited for what the future holds.”