Growth across AXIS Capital ’s insurance and reinsurance segments contributed to a net income of US$294 million for the third quarter of 2025, or US$3.74 per diluted share, as the company reported improved underwriting performance and lower combined ratios in both divisions.

The insurance segment reported gross premiums written of US$1.7 billion, up 11% year over year, and net premiums written of US$1.08 billion, an 11% increase. The combined ratio improved to 85.9%, compared with 90.4% a year earlier, while underwriting income rose 55% to US$153 million.

AXIS said this growth was seen across most business lines except cyber, which saw reduced premiums linked to programme business.

In reinsurance, gross premiums written rose 6% to US$432 million, with a 92.2% combined ratio compared to

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