AXIS Capital’s underwriting result strengthens amid lower cat losses and favourable PYD

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, produced an improved combined ratio of 90.4% and 89.8% for the fourth quarter and full year 2025, respectively, supported by lower catastrophe losses and higher net favourable prior year reserve development (PYD) for both periods when compared with the prior year.AXIS Capital ended 2025 strongly with fourth quarter Group net income of $282 million, down slightly on Q4 2024’s $286.1 million, as total revenues increased to $1.7 billion for th ...