AXIS Capital Holdings Limited reported net income available to common shareholders of $187 million, or $2.26 per diluted common share, and operating income of $261 million, or $3.17 per diluted common share, for the first quarter ended March 31, 2025.
The company achieved an annualized operating return on average common equity of 19.2% and a combined ratio of 90.2%, even amidst an active quarter for natural catastrophes. Book value per diluted common share reached a record $66.48 at March 31, 2025.
Net investment income increased by 24% year-over-year to $208 million, driven by higher yields and alternative investment returns. The Insurance segment delivered an 86.7% combined ratio and its highest ever first quarter production with $1.7 billion in gross premiums.
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