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AXIS trims its reinsurance book by 25% in Q2 2026
AXIS reported net income of $251 million in Q2 2026, up from $216 million a year earlier, even as gross written premiums rose to $2.7 billion.
AXIS reduced its reinsurance book by 25% in Q2 2026, with professional and liability lines accounting for 58% and 42% of the reduction, respectively, as the Bermuda based reinsurer emphasized a cautious and disciplined approach, according to Reinsurance News.
The outlet said AXIS’s net income increased to $251 million in the second quarter of 2026 from $216 million in Q2 2025. Gross written premiums rose to $2.7 billion, including $2.2 billion in the insurance segment and $439 million in the reinsurance segment.
Management attributed the reinsurance pullback to unfavorable market terms and ongoing risk uncertainty in casualty trends, Reinsurance News reported. AXIS President and CEO Vincent Tizzio said the company’s reduction reflected an “unfair trade” on ceding commissions and caution around the risk outlook for lost development costs, while maintaining that its reinsurance strategy was proceeding as planned.
Reinsurance News added that AXIS expects to continue executing its selective professional and liability strategy, with Tizzio noting that looking at the six month results, the company is likely to end up around the range of where it is.