---
schema_version: "secwatch.filing_event.v1"
accession: "0001214816-25-000112"
form_type: "8-K"
ticker: "AXS"
cik: "0001214816"
company_name: "AXIS CAPITAL HOLDINGS LTD"
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T02:01:53.584851+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# AXIS Capital Q1 operating income rises to $261M; combined ratio 90.2%

## Summary
- Net income available to common shareholders $187M ($2.26 diluted EPS) vs $388M ($4.53) Q1 2024; operating income $261M ($3.17) vs $220M ($2.57).
- Combined ratio of 90.2%; current accident year combined ratio ex-cat improved 1.7 pts to 87.9%.
- Book value per diluted common share $66.48, up 16.4% YoY; $440M in share repurchases during Q1.
- Net investment income $208M, +24% YoY; book yield on fixed maturities 4.5% at quarter end.
- Insurance segment gross premiums $1.7B (highest ever Q1) with 86.7% combined ratio; Reinsurance combined ratio 92.3%.

## SEC filing metadata
- accession: 0001214816-25-000112
- form_type: 8-K
- ticker: AXS
- cik: 0001214816
- company_name: AXIS CAPITAL HOLDINGS LTD
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1214816/000121481625000112/0001214816-25-000112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1214816/000121481625000112/axs-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214816-25-000112
- JSON: https://secwatch.observer/filing/0001214816-25-000112.json
- Plain text: https://secwatch.observer/filing/0001214816-25-000112.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.