AXIS Capital Q2 net income $204M, operating EPS $2.93 record; combined ratio 90.4%

AXIS CAPITAL HOLDINGS LTD

2024-Q2 EPS reported $6.93 revenue$2,875,057,000

Net income available to common shareholders $204M ($2.40/diluted share) vs $143M ($1.67) Q2 2023.
Operating income $250M ($2.93/diluted share) record; annualized operating ROACE 19.9%.
Combined ratio improved 1.1 pts to 90.4%; specialty insurance 87.9%, reinsurance 89.3%.
Book value per diluted share $59.29, up $2.16 (3.8%) from Q1 2024 and $8.31 (16.3%) YoY.
Returned $176M to shareholders YTD: $100M share repurchases + $76M dividends.

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