AXIS CAPITAL HOLDINGS LTD's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), AXIS CAPITAL HOLDINGS LTD reported revenue of $6.6B (+10.2% year on year) and net income of $1.0B (-6.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net premiums earned | $5.7B | $5.3B | $5.1B | $5.2B |
| Net investment income | $766.9M | $759.2M | $611.7M | $418.8M |
| Other insurance related income | $23.2M | $30.7M | $22.5M | $13.1M |
| Increase in allowance for expected credit losses | ($4.3M) | ($10.3M) | ($5.2M) | — |
| Impairment losses | ($2.3M) | ($408.0K) | ($12.8M) | ($12.6M) |
| Other realized and unrealized investment gains (losses) | $65.5M | ($127.8M) | ($56.6M) | ($432.8M) |
| Total net investment gains (losses) | $59.0M | ($138.5M) | ($74.6M) | ($456.8M) |
| Total revenues | $6.6B | $6.0B | $5.6B | $5.1B |
| Net losses and loss expenses | $3.3B | $3.2B | $3.4B | $3.2B |
| Acquisition costs | $1.1B | $1.1B | $1.0B | $1.0B |
| General and administrative expenses | $703.9M | $666.2M | $684.4M | $680.3M |
| Foreign exchange losses (gains) | $142.0M | ($50.8M) | $58.1M | ($157.9M) |
| Interest expense and financing costs | $66.7M | $67.8M | $68.4M | $63.1M |
| Reorganization expenses | $0 | $26.3M | $29.0M | $31.4M |
| Amortization of intangible assets | $9.9M | $10.9M | $10.9M | $10.9M |
| Total expenses | $5.3B | $4.9B | $5.2B | $4.9B |
| Income before income taxes and interest in income of equity method investments | $1.2B | $1.0B | $398.4M | $243.1M |
| Income tax (expense) benefit | ($216.7M) | $55.6M | ($26.3M) | ($22.0M) |
| Interest in income of equity method investments | $9.5M | $18.0M | $4.2M | $2.0M |
| Net income | $1.0B | $1.1B | $376.3M | $223.1M |
| Preferred share dividends | $30.3M | $30.3M | $30.3M | $30.3M |
| Net income available to common shareholders | $978.6M | $1.1B | $346.0M | $192.8M |
| Earnings per common share (in dollars per share) | $12.52 | $12.49 | $4.06 | $2.27 |
| Earnings per diluted common share (in dollars per share) | $12.35 | $12.35 | $4.02 | $2.25 |
| Weighted average common shares outstanding (in shares) | 78.2M | 84.2M | 85.1M | 84.9M |
| Weighted average diluted common shares outstanding (in shares) | 79.3M | 85.2M | 86.0M | 85.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net premiums earned | $1.5B | $1.5B | $1.5B | $1.4B |
| Net investment income | $181.6M | $184.7M | $184.9M | $187.3M |
| Other insurance related income | $5.6M | $5.6M | $6.6M | $8.7M |
| (Increase) decrease in allowance for expected credit losses | $2.6M | ($850.0K) | ($5.5M) | ($2.3M) |
| Impairment losses | ($116.0K) | ($267.0K) | ($63.0K) | ($400.0K) |
| Other realized and unrealized investment gains | $44.3M | ($26.1M) | $36.4M | $46.2M |
| Total net investment gains | $46.7M | ($27.2M) | $30.9M | $43.5M |
| Total revenues | $1.8B | $1.6B | $1.7B | $1.6B |
| Net losses and loss expenses | $933.1M | $867.3M | $841.4M | $801.8M |
| Acquisition costs | $316.3M | $304.3M | $285.6M | $275.9M |
| General and administrative expenses | $164.9M | $158.2M | $171.6M | $161.1M |
| Foreign exchange losses (gains) | ($2.3M) | ($36.2M) | ($13.5M) | $94.9M |
| Interest expense and financing costs | $16.8M | $16.4M | $16.7M | $16.6M |
| Reorganization expenses | $5.5M | $23.2M | $0 | $0 |
| Amortization of intangible assets | $2.4M | $2.4M | $2.4M | $2.4M |
| Total expenses | $1.4B | $1.3B | $1.3B | $1.4B |
| Income before income taxes and interest in income (loss) of equity method investments | $316.2M | $308.1M | $370.0M | $280.3M |
| Income tax expense | ($61.4M) | ($55.8M) | ($70.3M) | ($56.2M) |
| Interest in income (loss) of equity method investments | $3.3M | $2.4M | $2.1M | ($705.0K) |
| Net income | $258.1M | $254.8M | $301.9M | $223.4M |
| Preferred share dividends | $7.6M | $7.6M | $7.6M | $7.6M |
| Net income available to common shareholders | $250.5M | $247.2M | $294.3M | $215.8M |
| Earnings per common share (in usd per share) | $3.41 | $3.34 | $3.79 | $2.75 |
| Earnings per diluted common share (in usd per share) | $3.38 | $3.29 | $3.74 | $2.72 |
| Weighted average common shares outstanding (in shares) | 73.5M | 74.1M | 77.6M | 78.4M |
| Weighted average diluted common shares outstanding (in shares) | 74.2M | 75.2M | 78.6M | 79.3M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Fixed maturities, available for sale, at fair value (Amortized cost 2025: $12,937,728; 2024: $12,419,905 Allowance for expected credit losses 2025: $1,836; 2024: $3,938) | $13.0B | $12.2B | $12.2B | $11.3B |
| Fixed maturities, held to maturity, at amortized cost (Fair value 2025: $395,942; 2024: $436,751 Allowance for expected credit losses 2025: $nil; 2024: $nil) | $397.4M | $443.4M | $686.3M | $698.4M |
| Equity securities, at fair value (Cost 2025: $581,275; 2024: $520,743) | $707.6M | — | — | — |
| Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2025: $29,742; 2024: $23,378) | $356.8M | $505.7M | $610.1M | $627.4M |
| Other investments, at fair value | $1.0B | $930.3M | $949.4M | $996.8M |
| Equity method investments | $227.2M | $207.0M | $174.6M | $148.3M |
| Short-term investments, at fair value | $20.3M | $223.7M | $17.2M | $70.3M |
| Total investments | $15.8B | $15.0B | $15.3B | $14.4B |
| Cash and cash equivalents | $820.3M | $2.1B | $953.5M | $751.4M |
| Restricted cash and cash equivalents | $500.9M | $920.1M | $430.5M | $423.2M |
| Accrued interest receivable | $116.3M | $114.0M | $106.1M | $94.4M |
| Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2025: $15,821; 2024: $17,339) | $3.2B | $3.2B | $3.1B | $2.7B |
| Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2025: $40,340; 2024: $43,445) | $9.0B | $6.8B | $6.3B | $5.8B |
| Reinsurance recoverable on paid losses and loss expenses | $673.8M | $546.3M | $575.8M | $539.7M |
| Deferred acquisition costs | $801.8M | $524.8M | $450.9M | $473.6M |
| Prepaid reinsurance premiums | $2.1B | $1.9B | $1.9B | $1.6B |
| Receivable for investments sold | $12.8M | $3.7M | $8.8M | $16.1M |
| Goodwill | $66.5M | $66.5M | $100.8M | $100.8M |
| Intangible assets | $166.1M | $176.0M | $186.9M | $197.8M |
| Operating lease right-of-use assets | $93.9M | $92.5M | $108.1M | $92.2M |
| Loan advances made | $231.5M | $247.8M | $305.2M | — |
| Other assets | $887.3M | $695.8M | $456.4M | $438.3M |
| Total assets | $34.5B | $32.5B | $30.3B | $27.6B |
| Reserve for losses and loss expenses | $18.1B | $17.2B | $16.4B | $15.2B |
| Unearned premiums | $5.8B | $5.2B | $4.7B | $4.4B |
| Insurance and reinsurance balances payable | $1.9B | $1.7B | $1.8B | $1.5B |
| Debt | $1.3B | $1.3B | $1.3B | $1.3B |
| Federal Home Loan Bank advances | $66.4M | $66.4M | $85.8M | $81.4M |
| Payable for investments purchased | $37.0M | $269.7M | $26.1M | $19.7M |
| Operating lease liabilities | $110.1M | $106.6M | $123.1M | $102.6M |
| Other liabilities | $745.3M | $528.4M | $464.4M | $386.9M |
| Total liabilities | $28.1B | $26.4B | $25.0B | $23.0B |
| Preferred shares | 550.0M | 550.0M | 550.0M | 550.0M |
| Common shares (shares issued 2025: 176,580; 2024: 176,580 shares outstanding 2025: 74,135; 2024: 82,984) | 2.2M | 2.2M | 2.2M | 2.2M |
| Additional paid-in capital | $2.4B | $2.4B | $2.4B | $2.4B |
| Accumulated other comprehensive income (loss) | $28.4M | ($267.6M) | ($365.8M) | ($760.3M) |
| Retained earnings | $8.2B | $7.3B | $6.4B | $6.2B |
| Treasury shares, at cost (2025: 102,445; 2024: 93,596) | -4.8B | -3.9B | -3.7B | -3.8B |
| Total shareholders’ equity | $6.4B | $6.1B | $5.3B | $4.6B |
| Total liabilities and shareholders’ equity | $34.5B | $32.5B | $30.3B | $27.6B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Fixed maturities, available for sale, at fair value (Amortized cost 2026: $13,916,563; 2025: $12,937,728 Allowance for expected credit losses 2026: $1,898; 2025: $1,836) | $13.8B | $13.1B | $12.9B | $12.1B |
| Fixed maturities, held to maturity, at amortized cost (Fair value 2026: $402,105; 2025: $395,942 Allowance for expected credit losses 2026: $nil; 2025: $nil) | $407.0M | $405.2M | $406.7M | $405.0M |
| Equity securities, at fair value (Cost 2026: $606,505; 2025: $581,275) | $748.5M | $688.8M | — | — |
| Mortgage loans, held for investment, at fair value (Allowance for expected credit losses 2026: $27,957; 2025: $29,742) | $335.5M | $344.0M | $409.7M | $438.6M |
| Other investments, at fair value | $1.1B | $1.0B | $972.9M | $938.9M |
| Equity method investments | $203.7M | $236.8M | $220.0M | $215.9M |
| Short-term investments, at fair value | $2.8M | $5.8M | $17.2M | $51.7M |
| Total investments | $16.6B | $15.8B | $15.6B | $14.8B |
| Cash and cash equivalents | $780.0M | $862.4M | $825.9M | $852.1M |
| Restricted cash and cash equivalents | $443.1M | $525.7M | $532.2M | $557.1M |
| Accrued interest receivable | $124.3M | $118.5M | $117.7M | $108.5M |
| Insurance and reinsurance premium balances receivable (Allowance for expected credit losses 2026: $14,479; 2025: $15,821) | $4.0B | $3.9B | $3.7B | $4.0B |
| Reinsurance recoverable on unpaid losses and loss expenses (Allowance for expected credit losses 2026: $41,354; 2025: $40,340) | $8.9B | $8.9B | $9.0B | $9.1B |
| Reinsurance recoverable on paid losses and loss expenses | $626.7M | $581.9M | $648.1M | $637.7M |
| Deferred acquisition costs | $946.4M | $933.8M | $641.5M | $655.0M |
| Prepaid reinsurance premiums | $2.6B | $2.5B | $2.2B | $2.2B |
| Receivable for investments sold | $4.8M | $5.4M | $3.8M | $29.1M |
| Goodwill | $66.5M | $66.5M | $66.5M | $66.5M |
| Intangible assets | $161.3M | $163.7M | $168.4M | $170.8M |
| Operating lease right-of-use assets | $92.8M | $94.7M | $92.7M | $89.4M |
| Loan advances made | $316.3M | $302.2M | $250.5M | $263.8M |
| Other assets | $900.1M | $912.3M | $541.1M | $576.9M |
| Total assets | $36.6B | $35.6B | $34.3B | $34.2B |
| Reserve for losses and loss expenses | $18.6B | $18.3B | $18.0B | $17.9B |
| Unearned premiums | $6.8B | $6.6B | $6.0B | $6.2B |
| Insurance and reinsurance balances payable | $2.4B | $2.2B | $1.9B | $1.9B |
| Debt | $1.3B | $1.3B | $1.3B | $1.3B |
| Federal Home Loan Bank advances | $61.1M | $66.4M | $66.4M | $66.4M |
| Payable for investments purchased | $189.2M | $69.1M | $195.0M | $79.7M |
| Operating lease liabilities | $108.3M | $110.2M | $109.0M | $106.5M |
| Other liabilities | $612.2M | $637.4M | $436.5M | $442.0M |
| Total liabilities | $30.1B | $29.2B | $28.0B | $28.0B |
| Preferred shares | 550.0M | 550.0M | 550.0M | 550.0M |
| Common shares (shares issued 2026: 176,580; 2025: 176,580 shares outstanding 2026: 73,141; 2025: 74,135) | 2.2M | 2.2M | 2.2M | 2.2M |
| Additional paid-in capital | $2.4B | $2.4B | $2.4B | $2.4B |
| Accumulated other comprehensive income (loss) | ($107.8M) | ($97.1M) | $10.2M | ($21.7M) |
| Retained earnings | $8.6B | $8.4B | $7.9B | $7.7B |
| Treasury shares, at cost (2026: 103,439; 2025: 102,445) | -5.0B | -4.9B | -4.5B | -4.4B |
| Total shareholders’ equity | $6.5B | $6.4B | $6.4B | $6.2B |
| Total liabilities and shareholders’ equity | $36.6B | $35.6B | $34.3B | $34.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.0B | $1.1B | $376.3M | $223.1M |
| Net investment (gains) losses | ($56.0M) | $144.2M | $74.6M | $456.8M |
| Net realized and unrealized gains on other investments | ($68.0M) | ($47.2M) | ($19.7M) | ($55.8M) |
| Amortization of fixed maturities | ($39.6M) | ($38.4M) | ($20.2M) | $26.1M |
| Interest in income of equity method investments | ($9.5M) | ($18.0M) | ($4.2M) | — |
| Other amortization and depreciation | $56.4M | $55.3M | $75.6M | $68.3M |
| Share-based compensation expense, net of cash payments | $45.2M | $42.7M | $54.1M | $48.5M |
| Accrued interest receivable | ($2.3M) | ($8.4M) | ($11.8M) | ($30.4M) |
| Reinsurance recoverable on unpaid losses and loss expenses | ($2.1B) | ($543.4M) | ($493.8M) | ($825.6M) |
| Reinsurance recoverable on paid losses and loss expenses | ($190.8M) | ($3.8M) | ($60.9M) | $101.7M |
| Deferred acquisition costs | ($115.4M) | ($74.5M) | $21.5M | ($10.5M) |
| Prepaid reinsurance premiums | ($203.5M) | ($31.3M) | ($365.7M) | ($176.5M) |
| Reserve for losses and loss expenses | $906.3M | $841.7M | $1.3B | $544.5M |
| Unearned premiums | $614.5M | $482.9M | $388.7M | $287.1M |
| Insurance and reinsurance balances, net | ($16.3M) | $118.3M | $13.8M | $82.9M |
| Other items | $149.8M | ($157.0M) | ($45.9M) | ($45.8M) |
| Net cash provided by (used in) operating activities | ($40.9M) | $1.8B | $1.3B | $692.2M |
| Fixed maturities, available for sale | ($9.2B) | ($10.5B) | ($6.3B) | ($7.5B) |
| Fixed maturities, held to maturity | ($125.2M) | ($105.8M) | ($37.5M) | ($255.6M) |
| Equity securities | ($130.9M) | ($114.5M) | ($89.5M) | ($94.3M) |
| Mortgage loans | ($15.4M) | ($17.7M) | ($24.9M) | ($117.0M) |
| Other investments | ($170.2M) | ($69.6M) | ($91.0M) | ($147.7M) |
| Equity method investments | ($10.7M) | ($14.4M) | ($22.2M) | — |
| Short-term investments | ($244.7M) | ($331.3M) | ($247.5M) | ($177.0M) |
| Unsettled payable for reverse repurchase agreements included in cash and cash equivalents | $0 | $247.5M | — | — |
| Fixed maturities, available for sale | $6.8B | $9.1B | $4.8B | $6.1B |
| Equity securities | $98.9M | $154.6M | $55.7M | $138.5M |
| Other investments | $140.6M | $136.0M | $158.3M | $156.7M |
| Short-term investments | $315.7M | $58.2M | $227.3M | $116.8M |
| Proceeds from redemption of fixed maturities, available for sale | $1.6B | $1.5B | $934.0M | $1.0B |
| Proceeds from redemption of fixed maturities, held to maturity | $171.2M | $348.8M | $49.6M | $3.5M |
| Proceeds from redemption of short-term investments | $135.0M | $69.0M | $76.5M | $20.1M |
| Proceeds from the repayment of mortgage loans | $153.3M | $98.2M | $36.4M | $84.4M |
| Proceeds from the purchase of other assets, net | ($51.3M) | ($17.4M) | ($31.1M) | — |
| Loan advances made | ($138.7M) | ($199.0M) | ($349.8M) | — |
| Net cash provided by (used in) investing activities | ($628.7M) | $280.5M | ($855.6M) | ($655.8M) |
| Repurchase of common shares | -887.7M | -199.9M | 0 | -35.0M |
| Taxes paid on withholding shares | -26.6M | -15.9M | -23.6M | -14.0M |
| Dividends paid - common shares | -142.7M | -151.8M | -153.8M | -149.3M |
| Dividends paid - preferred shares | -30.3M | -30.3M | -30.3M | -30.3M |
| Federal Home Loan Bank advances, net | $0 | ($19.4M) | $5.3M | $79.0M |
| Net cash used in financing activities | ($1.1B) | ($417.3M) | ($202.4M) | ($149.6M) |
| Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash | $14.5M | ($28.3M) | $11.8M | ($29.8M) |
| Increase (decrease) in cash, cash equivalents and restricted cash | ($1.7B) | $1.7B | $209.3M | ($143.0M) |
| Cash, cash equivalents and restricted cash - beginning of year | $3.1B | $1.4B | $1.2B | $1.3B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $512.9M | $254.8M | $719.3M | $417.4M |
| Net investment (gains) losses | ($21.2M) | $27.4M | ($41.2M) | ($12.4M) |
| Net realized and unrealized gains on other investments | ($22.9M) | ($16.7M) | ($55.0M) | ($40.0M) |
| Amortization of fixed maturities | ($20.0M) | ($9.7M) | ($30.4M) | ($20.1M) |
| Interest in income of equity method investments | ($5.7M) | ($2.4M) | ($3.7M) | ($1.6M) |
| Other amortization and depreciation | $29.5M | $14.4M | $41.2M | $27.3M |
| Share-based compensation expense | $31.1M | $17.9M | $34.1M | $23.1M |
| Accrued interest receivable | ($8.3M) | ($2.2M) | ($3.7M) | $5.6M |
| Reinsurance recoverable on unpaid losses and loss expenses | ($11.4M) | $52.3M | ($2.2B) | ($2.2B) |
| Reinsurance recoverable on paid losses and loss expenses | $21.8M | $82.8M | ($147.7M) | ($124.4M) |
| Deferred acquisition costs | ($146.2M) | ($132.9M) | ($118.3M) | ($130.5M) |
| Prepaid reinsurance premiums | ($483.9M) | ($321.0M) | ($229.2M) | ($286.9M) |
| Reserve for losses and loss expenses | $522.7M | $187.9M | $778.5M | $645.4M |
| Unearned premiums | $997.6M | $746.2M | $788.6M | $942.1M |
| Insurance and reinsurance balances, net | ($145.5M) | ($284.3M) | ($200.7M) | ($517.6M) |
| Other items | ($99.3M) | ($94.8M) | $5.6M | ($25.4M) |
| Net cash provided by (used in) operating activities | $1.2B | $519.4M | ($671.3M) | ($1.3B) |
| Fixed maturities, available for sale | ($5.4B) | ($2.1B) | ($7.0B) | ($4.8B) |
| Fixed maturities, held to maturity | ($95.6M) | ($48.1M) | ($111.6M) | ($43.9M) |
| Equity securities | ($51.7M) | ($38.3M) | ($83.5M) | ($81.1M) |
| Mortgage loans | ($11.4M) | ($1.1M) | ($10.4M) | ($10.2M) |
| Other investments | ($70.7M) | ($31.1M) | ($72.0M) | ($41.4M) |
| Equity method investments | ($10.5M) | ($7.2M) | ($9.4M) | ($7.3M) |
| Short-term investments | ($415.0K) | ($415.0K) | ($235.6M) | ($234.1M) |
| Fixed maturities, available for sale | $3.8B | $1.6B | $5.4B | $4.2B |
| Equity securities | $30.3M | $29.2M | $98.6M | $101.3M |
| Other investments | $55.5M | $31.1M | $84.4M | $72.7M |
| Equity method investments | $39.7M | — | — | — |
| Short-term investments | $17.4M | $14.4M | $310.9M | $290.5M |
| Proceeds from redemption of fixed maturities, available for sale | $719.5M | $341.7M | $1.1B | $706.9M |
| Proceeds from redemption of fixed maturities, held to maturity | $86.1M | $40.3M | $148.3M | $82.3M |
| Proceeds from redemption of equity securities (preferred stock) | $8.5M | — | — | — |
| Proceeds from redemption of short-term investments | $509.0K | $509.0K | $134.0M | $118.3M |
| Proceeds from the repayment of mortgage loans | $28.3M | $9.8M | $97.0M | $73.7M |
| Purchase of other assets | ($28.6M) | ($14.4M) | ($35.5M) | ($19.3M) |
| Loan advances made | ($143.2M) | ($105.5M) | ($120.7M) | ($94.2M) |
| Net cash provided by (used in) investing activities | ($979.6M) | ($323.4M) | ($288.2M) | $277.8M |
| Repurchase of common shares | -148.8M | -59.5M | -600.0M | -490.0M |
| Taxes paid on withholding shares | -30.9M | -22.7M | -25.7M | -25.6M |
| Dividends paid - common shares | -68.4M | -35.1M | -108.8M | -74.4M |
| Dividends paid - preferred shares | -15.1M | -7.6M | -22.7M | -15.1M |
| Repayment of Federal Home Loan Bank advances | ($5.3M) | — | $0 | — |
| Net cash used in financing activities | ($268.5M) | ($124.9M) | ($757.1M) | ($605.1M) |
| Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash | ($902.0K) | ($4.1M) | $11.0M | $18.0M |
| Decrease in cash, cash equivalents and restricted cash | ($98.1M) | $66.9M | ($1.7B) | ($1.7B) |
AXIS CAPITAL HOLDINGS LTD score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.